People in this country will be forced to ask hard questions and look at the detail. In this country, we have a habit of saying things will be all right. There is an attractive aspect to this but things were not all right. In the boardrooms of senior companies and particular banks and in our regulatory system people were not willing to ask the hard questions. This will have to change. Paying attention to detail and getting the detail right in everything we do in the public and private sectors is also a consequence. Changes will have to come out of this unfortunate lesson we have learned in the past three, five and ten years.

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