The adoption of a regulatory and supervisory approach with a heavier macroprudential focus has a strong rationale, but we should be careful about over-promising, as we are still rather far from having the capacity to implement such an approach inathoroughgoingway.
One goal of this approach is to eliminate non-value-added activities in Chrysler plants inathoroughgoingway that the company never has attempted before, down to shaving steps required by an assembly-line operator to complete a given task by asking the worker to redesign the job.