Those running financial institutions are seldom chastened by the experience of over-lending and the collapse that inevitably follows, writes Colin Teese.To parody a cliché, “Nothing succeeds like excess.” The finance industry proves it. But for this we can’t really blame market failure.Financial markets don’t fail; the normal characteristics of market operation – the possibility of failure as well as of success – have never been allowed to exist. A senior Reserve Bank of Australia (R…