Indeed, even in retrospect, our knowledge of what drove the price-earnings ratios for U.S. equities so high in the late 1990s and our ability to estimate what a more "appropriate" level for the price-earnings ratio might have been are very incomplete and, frankly, probably will not improve substantially.
Another initiative is the one bills payment facility, which aims to remove the inefficiencies associated with the current fragmented bills payment mechanisms. The billers will be capable of collecting from their customers even if the payment service providers of the billers are different from those of the customers.