following the herd?
European central banker Alexandre Lamfalussy last month
challenged banks and their advisers to tackle a system he
labelled a "fertile breeding ground for excessive risk
In a keynote address to the International Capital Markets
Association (ICMA) in Berlin, Lamfalussy said banks are posing
"moral hazards" and "succumbing to the temptation of herd
behaviour". Delegates at the ICMA conference listened as...