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
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 projects. You need to have bankers, people with background in the financial industry.
You also have to have strong regulation and supervision by the Federal Reserve, FDIC, SEC, whatever.