Yesterday, Angel Gurría, Secretary-General of the Organsiation For Economic Co-Operation and Development stated that President Obama’s "separation plan" to place new restrictions on the size and scope of banks and other financial institutions in an effort to control excessive risk taking and protect taxpayers could, subject to clarification of "issues of timing and details about corporate structure," help to "avoid a new financial crisis by resolving some major risks inherent to the current financial system." Secretary-General Gurría noted that the main prudential issue is "not so much the size of banks but the nature of what they do—the separation issue." In particular, the origins of the crisis can be traced to a shift from "the credit culture of commercial banking towards an equity culture focused on generating profits for shareholders and management by exploiting new financial innovations and leveraging them while taking advantage of regulatory and tax loopholes." Looking ahead Secretary-General Gurría stated the "separation plan" would help "significantly reduce contagion risk," "reduce counterparty risk," and "help sustainable growth by focusing management attention on the core needs of bank clients without major distractions and disruptions."