Dr. Donal Donovan:

Yes, I think, in a general sense. The IMF went through a lot of soul-searching on this. It published its own report on the failures in the period up to the crisis. It was very candid and made no bones about it. There were problems of groupthink being captured by all kinds of philosophies about deregulation and so on. All of these problems were laid out. I hope that in the future this lesson will have been learned. One always hopes that.