Has Wall Street Changed Since the Financial Crisis?

The video discusses the potential for liquidity issues on Wall Street, noting that while the business hasn't changed much, there is now greater scrutiny on capital and solvency. The Federal Reserve plays a key role in monitoring liquidity, and boards of directors have elevated risk management to unprecedented levels. The focus has shifted from deal-making to ensuring liquidity and solvency, a lesson learned from past financial crises like the collapse of Lehman Brothers.

What lessons can be learned from the near-death experiences of firms like Lehman Brothers?

Why is liquidity and solvency considered more important than deal-making in today's financial environment?