Would more “skin-in-game” have prevented Lehman Brothers’ collapse?

Noted: Future debt crises may be inevitable, but who pays the piper could mitigate the damage. So says a new paper by Dean Corbae (University of Wisconsin) and Ross Levine (University of California) presented at this year’s Jackson Hole Economic Symposium, “Competition, Stability and Efficiency in Financial Markets” https://www.kansascityfed.org/~/media/files/publicat/sympos/2018/jh080818revised.pdf?la=en, which suggests banks operate more like partnerships, with senior executives having “material skin-in-the game, so that those determining bank risk have a significant proportion of their personal wealth exposed to those risks.”