To follow that, we often end up picking up the pieces after a debacle. I'm thinking of this subprime mortgage crisis in the U.S. When we start to look through what happened there.... How could this have been allowed to happen? How could such dodgy mortgages have been put on by so many credible institutions and sold to so many investors to the point that it's almost created a global crisis?
Who was to blame there? Where was the federal oversight? How could so many people have turned their eye...? But it happens, whether it's Bre-X in penny mining stocks or the subprime mortgage.
When we are in boom cycle, it's very difficult to make those challenges, to raise those warning flags, because everybody is looking at the good picture and not the potential downturn.
Is your role providing prudent reporting to politicians? How do you see your ability to challenge when red flags are starting to appear? Are you going to be presenting that to individual members of Parliament if they ask, or are you going to be saying, “From what we're looking at, we've got certain problems developing here that could create a major problem down the road”, whether it's a situation like the subprime mortgage or whether it's just going into not having enough reserve funding coming into a recession?