Bright ideas and sombre moods

"I must admit, I have found this utterly depressing," said Professor Charles Goodhart as he wrapped up the most recent regulatory conference held at the London School of Economics (LSE). Bringing two days' worth of fervent discussion on how to mend the tattered sails of global finance to a close, Goodhart wondered aloud whether his sense of despair is to be entirely expected in current malaise: "I guess that's the point of being in a depression, such as the one we're in - that it's indeed very

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