11/11/2009 05:12 am ET Updated May 25, 2011

Why Wall Street Reforms Have Stalled

One year ago next week, Lehman Brothers went bankrupt, Merrill Lynch was sold and A.I.G. was rescued by a huge federal bailout. In the wake of the global financial crisis, Congress and regulators vowed to end Wall Street's profligate risk-taking and the compensation structures that rewarded that behavior. Yet looking back, experts say not a lot has changed in that culture, and efforts to control risk and reform executive pay have stalled.

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