Regulators need to adopt a holistic approach

One thing we know from even a cursory study of economics and finance is that there are cycles.

Regulators and officials contracted to mitigate the effects of cycles need to first be aware of them, and then understand them in a holistic fashion.

This week I hosted a one-day symposium on people risk in finance. We had a good audience composed of academics, bankers, central bankers and researchers.