Remarks before the Economic Club of New  York,  December  19,  2002.  https://www.federalreserve.gov/boarddocs/speeches/2002/20021219/default.htm. Hicks, John. 1967. "Monetary Theory and History: An Attempt at Perspective." In Critical Essays in Monetary Theory, pp. 155-73. Oxford: Clarendon Press. Ito, Takatoshi, Hugh Patrick, and David E. Weinstein, eds. 2005. Reviving Japan's Economy: Problems and Prescriptions. Cambridge: The MIT Press.
It is difficult for managers and supervisors to be critical of loan growth in such an environment, particularly one marked by intense competition. In addition, incentives for loan officers and managers traditionally have rewarded loan growth, market share, and nominal profits.