Ruth Porat didn’t see it coming.

The Morgan Stanley (MS) banker who advised the U.S. Treasury Department on its rescue of Fannie Mae and Freddie Mac in September 2008 and thought she understood the risks to the financial system had just spent a weekend trying to save Lehman Brothers Holdings Inc. when she got a message: Would she come back to deal with American International Group Inc. (AIG)?

…read more of The risks facing Wall Street 5 years after the financial crisis HERE

A man looks up at the offices of JPMorgan Chase & Co. in London. The ability of banks to hide risk, years after Lehman Brothers Holdings Inc.’s fall, was demonstrated by JPMorgan’s $6.2 billion loss in 2012 on wrong-way derivatives bets by a trader known as the London Whale because his positions were so vast.