Hintz added that Bear Stearns has always been an independent firm, making it hard for him to believe that it would suddenly change the corporate culture.

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Hintz added that Bear Stearns (nyse: BSC - news - people ) has always been an independent firm, making it hard for him to believe that it would suddenly change the corporate culture.

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"Lawyers that I spoke with say that in order to change the corporate and industry culture, harsher penalties are needed and the government is reportedly looking into criminalising insider trading, " she added.

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Some lessons were broad, like the importance of a corporate culture that tolerates both failure and change.

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Third, the increasing acceptance of Sony's recently unveiled restructuring plan could signify a fundamental change in Japanese corporate culture and this has further fuelled foreign buying of equities (although it is still early to conclude that Sony-style restructuring could form a critical mass).

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That change in culture should also come with hiring, he said, both in the companies and on the corporate board level.

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It has probably done more to change the way people think about what Foster calls "the culture of office buildings" and the relation of the corporate to the public domain in a city's matrix than any other 20th century structure.

CNN: ASIANOW - TIME Asia