SINGAPORE (June 18): Raghuram Rajan, the famous economist and former governor of the Reserve Bank of India, outlined with great insight the reasons banks need to be regulated when he spoke at the 2018 MAS Lecture earlier this month. For me, his presentation was a timely reminder of how things can quickly go wrong in the finance sector. And, it was especially relevant as we approach the 10th anniversary of the collapse of Lehman Brothers, amid a heightened degree of risk taking in the market.

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