This is understandable, and it is entirely appropriate that these questions be posed in the light of the events of the past decade. My point is simply that we have been here before.
If we think far enough back in history, there are things to learn about regulation and its cycle, just as there would have been – had people been more inclined to look – about the nature of private finance and its cycle. The objective shouldn’t be to suppress finance again to the extent it was for so long in the past.