There was clear dichotomy here between the homogeneous financial profiles of various entities and the regulatory prescriptions they were subjected to. Besides, there were also economic agents in the system which did not attract any regulations or were only nominally regulated but were active players in the system.
These dimensions was sharply brought to the fore by the inability of international regulators to even assess the extent of exposure of major entities and distribution of risk in the system through the chain of interlinkages, during the initial period of the crisis. It is therefore not surprising that regulation of hitherto unregulated entities has been one of the key recommendations of many committees.