Adair Turner also told newspapers that regulators should sweep aside their previous assumptions as they look for a more effective global regime in the wake of the credit crisis and should take a tougher line.
"Although there are still going to be macro-economic consequences of what has occurred, I think we are past the point of the danger of where we were last week, where we could have had a fundamental systemic meltdown of the core plumbing of the world financial system," Mr Turner told the Financial Times .
Continue reading from source: IrishTimes.com
