Some of the relatively less supervised institutions that were problematic prior to the crisis no longer exist – for example, US investment banks failed, or were converted into, or assumed by, regulated banks. But other institutions whose actions could on occasion be of systemic importance, such as hedge funds, are being subjected to more oversight.
He certainly did not underestimate the difficulty of this process or the resistance it would meet. Like Jean Monnet, Tommaso was fond of quoting the words of the Swiss philosopher Henri-Frédéric Amiel: “Experience starts over with every individual.