18. August 2010 10:52
"And so the history of banking and finance is not just a history of financial innovation, it is also a history of regulatory response. That regulatory response has had its own quite pronounced cycles. Moreover, regulation prompts further innovation, and so on."
Thought-provoking words from the 2010 Shann Memorial Lecture, delivered yesterday by RBA Governor Glenn Stevens at the University of Western Australia.
The full text of the lecture is available through Capital Monitor.