Recently, I was reading the Economist and came across Charles Keating's obituary. That name means little to most readers outside the US, but for me it reminded of an idea that's been percolating in my mind for quite some time now: while rich countries offer valuable lessons for microfinance regulation, those lessons alone won't be enough.
Or the more things change, the more they stay the same... Sometimes it seems as though there is no shortage of proverbs when it comes to looking at the seemingly inevitable credit business cycle. In my last blog I took a look at the unprecedented stability of the US banking sector during the 50 years following the Great Depression.