•  The market for commercial papers has barely reached lift-off. •  The market for mortgages and the financing of other long-term investment has not managed even to get to the drawing-board. •  The banks' control of the provident and mutual funds is as tight as ever, regardless of their performance.
•  And on top of all the above, serious distortions were created because of tax regulations that were introduced at a time when the government was involved in everything, and that really was a long time ago. Our ability to change these regulations seems to be further away now than ever.