Lord Turner has said policymakers and regulators have to consider whether recent assumptions that all expansion of financial services activity is good are necessarily correct. He said the recent crisis has shown inherent risks in this belief as speculation can be both good and bad. He spoke on the changes now under discussion that will create a more stable system and said regulators should consider adopting policies that would previously have been unpalatable, such as measures that control credit expansion and constrain short-term speculative inflows.