FT.com / Markets / Ask the expert - The future of capitalism

FT.com / Markets / Ask the expert - The future of capitalism: "Never again should we let ideology guide central banking and its regulatory responsibilities. Central banks need new mandates that explicitly tie their policy targets to the requirement of containing the excesses of asset bubbles and the severe economic distortions they spawn. Then, and only then, can the new financial system be on much sounder footing than the old one. But that’s not to say that we in the industry shouldn’t take a long and hard look in the mirror before we embark on our own Herculean task of attempting to rebuild a failed financial system."