November 2009
Prince Alwaleed bin Talal: "Our goal is to get things back to normal"
Prince Alwaleed bin Talal gives has forthright views on global regulation, and the prospects for local and regional capital markets in the Middle East. He explains the role that Kingdom Holding can play in promoting Saudi Arabia’s standing in the international financial community.
Alwaleed stands firm
Online extra
Is the Federal Reserve best suited to the role of systemic regulator?
If they don’t sleep at the wheel again, sure they are, but if they do, you’ll have no banks left. It depends on behaviour. It depends on how strong the internal controls are, how strong the chairman, CEO and the board of directors are and how much control they have. It also depends on how much control and supervision the Federal Reserve is going to have over the banks.
If you’re asking me could this ever happen again, you bet – if people go back to their old habits. People have short memories. They can go back to old scenarios, unfortunately.
You need strong internal controls, a strong chairman, CEO and a knowledgeable board. Not a cosmetic board of directors nor a media magnate or someone from industrial...
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