But not only do we need cooperation between authorities of different countries. In my speech, I have mainly discussed how to reform regulation. But there is one thing we should be aware of: we cannot solve all of our problems through regulation. In order to reshape the world of finance, change has also to come from within.
3 Conclusion Ladies and gentlemen, The famous American author Mark Twain once said: “Make your mark in New York and you are a made man.” On that note, Mr Reich, I hope you will have plenty of time to forge new contacts, establish networks, and make your mark on this wonderful city.