Business Post's View

Regulators must react quickly to signs of trouble at banks

Bank failures are depressingly frequent, and to allow another global financial crash would be unconscionable and unforgivable

Credit Suisse: Swiss regulators ordered that it be merged into UBS

One of the most irritating phrases in the business world is “this time is different”. It crops up like an incantation during every financial crisis, as if there might be something about this crisis that makes it different to the last crisis, therefore nobody could see it coming and therefore nobody is to blame.

The notion was skewered by the economists Kenneth Rogoff and Carmen Reinhart in their book of that name, published after the ...