jump to 2010 and enter philipp hildebrand, former economist, hedge fund manager, and central banker,e was ready to take on the lenders strongly advocating stricter capital requirements. today on "leaders with lacqua," we meet one of the most recognized names in swiss banking. he is now vice-chairman at blackrock, the world's biggest money manager, which handles more than $5 trillion in assets. so we are 10 years on from the financial crisis. what have we learned? philipp: well, we have learned that we had too much leverage in the system without any doubt. and that when you have leverage, bad things happen. not only do they happen, but when they happen, the effects tend to be amplified. so i think that is the key take away from it all. i think we have also learned that this notion of kind of letting the market be totally free, that governments really should get out of the way, that wasn't a very good idea. i think what stands out is banks needed much, much more capital than they had at the time. we had capital levels that were excessively low. i mean, in some cases, these banks, they

jump to 2010 and enter philipp hildebrand, former economist, hedge fund manager, and central banker, take on the lenders strongly advocating stricter capital requirements. today on "leaders with lacqua," we meet one of the most

jump to 2010 and enter philipp hildebrand, former economist, hedge fund manager, and central banker, take on the lenders strongly advocating stricter capital requirements. today on "leaders with lacqua," we meet one of the most