Mr. Hall’s bank on the western slope of the Tetons was acquired by a visionary young banker from Utah by the name of Marriner Eccles. This was during the Roaring ‘20s, well before the Great Depression and the Banking Crisis of 1933. Before the evolution of modern supervisory practices, bank failures were extremely common, even in boom times.
But I don’t think that a President right from the get-go, as we are just about to embark on the process, should state; this is my view. I don’t want to preclude others from expressing theirs and I don’t want to over-influence the debate. Is it about the consensus building, or is it just about not influencing? Lagarde: It’s a combination of both.