There are interpersonal and sociological components to this that run very deep in our society. Perhaps our society merits ecclesiastical review by common sense. Three of the five banks whose banking licences the Bank of Mauritius has revoked in its history have a common thread that runs through to their demise.
*  *  *  It is a pleasure to be here at Widener University and to join the list of Federal Reserve officials who have addressed this distinguished audience. As you know, the current economic expansion is now the longest in our nation’s history. This is due, in part, to a combination of good fiscal and monetary policies.