The ability of a problem in one area of the financial system to spread and contaminate other areas was again illustrated rather vividly. The problems attached to innovative financial products were again underlined, including the need for adequate transparency and disclosure of the exact nature of and risks attached to each type of asset.
Although regulators certainly had a role to play, the need for investors to ultimately be wary, do their own homework and not assume that others – regulators, credit ratings agencies, sellers of financial products – have already done it for them, was emphasised.