The credit crunch is over. Reverberations shall remain though. Media would love to see a Dubai engulfed in one of its own palm islands but that might not happen every year and sensex and dow may return to the Nordic journey.
And who's learning the lessons! I guess the people who lost the jobs!! And you bet, none of them had a role in it except that they were hired by someone who was hired by someone who was hired by another one close to "Who Did It". Take for example the campus freshers - who got better offers than their seniors but were sent to trash and by the time fresh jobs come they might be drowned out by their juniors -more fresh to suck blood from fx dealers and HNIs.
where do they go? perhaps most of them shall be hired by less known siblings of the same banks who got drowned, resurfaced with aid of "fed" money and are back at the campuses. And the poor cousins would hope to do well with their cheap bargains, hoping to outsmart the Big Brothers only failing to realise that organisations thrive because of the decisions from the top and not because of the bottom. The best B-School brains only learn for their first few years and not turn around sick companies. For that you need people who've run sick companies or at least run companies.