In 2008 and 2009, the policy challenge was all about putting out fires. It was a call to action to address a lot of issues, and ICI was deeply involved with regulators and other market participants to sort things out. This year and last, we’ve been in a di erent phase. It’s not uncommon after any financial crisis to have a regulatory response, and this one has been broad and deep. Essentially, the sprint of 2008 has turned into a marathon. You have to call on di erent skills and di erent muscles. So now, perseverance is the order of the day. And what.
