First, we have to acknowledge that in the world we live in, macroprudential policy can never be perfectly effective – for instance because safeguarding financial stability is complicated by having to achieve multiple targets all at the same time.
He was president of what was then the new railway company, and was the principal financier of the building of CP rail. By all accounts he was a man who shunned the limelight and who said about himself that he had neither the training nor the talents to accomplish anything without hard work.