But sometimes a more fundamental rethinking of the regulatory framework is needed. Sometimes a crisis is the catalyst for such rethinking, as in the case of the deposit insurance and capital policy reforms in FDICIA that I mentioned earlier.
The impression is false, but it is important to spotlight the way in which the two lines of analysis can be reconciled in a single, harmonious economic policy prescription. The latest meeting of G20 Finance Ministers and Central Bank Governors ten days ago in Cairns, Australia, provides a good example of the joint presence of these two apparently conflicting concerns.