Many who share my generally liberal views on social and general political issues believe that the government should actively intervene in and heavily regulate financial markets. However, as a former senior government official and an investment banker active in those markets for over 30 years, my experience is that such intervention and regulation rarely work well and often lead to effects very different from those intended - effects that are often quite detrimental to the overall economy.

I do not believe in total deregulation, but rather in a light touch focused on items that matter greatly and gently shift the levers to move the markets in the desired directions.