It is a well-known fact that the hangover the day after is worse the wilder the party was the evening before. And secondly, the compass of market value fails if market functions are disrupted. III Likewise, it would not be very sustainable if regulators were now to respond to the numerous individual problems by intervening with an equally large number of individual measures.
The way forward Looking ahead to the resolution of this crisis, the following is a good starting point: we should start by distinguishing carefully between the many things that were wrong and need to change, and the many other things that were right and that we can continue to count on.