Professor Edward Kane:

On the next crisis, if one looks at what is happening in the United States, we passed the Dodd-Frank Act. Several of its provisions have been voted back in very slippery ways because they were bothersome to the banks. In the negotiations in Basel, one sees the putting off and the extension of the times for things to come on line. Every delay gives more time for re-fashioning things to be more comfortable. In a boom, everything looks strong and fine. These look like unnecessary precautions.