My theme is hardly an original one – namely, that in the absence of either a global regulator or completely insular national banking systems, we must continue to work toward a system of shared responsibilities to assure both home and host regulators that internationally active banks are subject to adequate oversight and controls.
Coming to the topic of the conference, let me admit straight away that the more I read and hear about the New Economy, the more my own interpretations shift towards the conclusion that the New Economy is neither unique nor new.