Specifically, is there something about the structure of our markets that leads non-investment-grade issuers to go abroad for their long-term debt financing? Or are our banks remarkably efficient in providing longer-term capital through their corporate loan business? Or are other instruments, such as income trusts, providing a substitute mechanism?
Are we able to bring information more effectively to bear in the formulation of economic policy? And are we communicating more clearly and persuasively to the general public, with cogent analysis that is fully backed up with relevant data? Is our oversight of the financial system keeping up with the world’s best regulatory guidance?