we have got brady dougan on the program, as well, this morning.ted from credit squeeze. dougan talked about the regulation, enough is enough. andrew: there is a good point particularly when there are banks like hsbc, who are renewing if they are going to stay in london, which is important for the city center. i think with regulators, it is getting the balance right. the danger is the pendulum swings too far so you have to get the balance right when dealing with market abuses, and we are still seeing some new things coming out post the financial crisis, but also recognizing that banking is an important sector. it is an important sector not just for the the regular economy but for the global economy. anna: in south africa, people were suggesting it was because of regulations that many of international banks are stepping away from lending to small and medium-sized businesses in africa, and there was a sort of risk aversion that came with regulation that had a global impact. do you think we are right in terms of the level of caution that we demand fro

in an exclusive interview, brady dougan said that at one point enough is enough.'s take a listen. >> a lot has been done. the regulators have done a lot. the banks have done a lot. a lot has changed. a lot of that has been positive. when you look at increases in capital, reductions in leverage, that is one of the things i always felt was the least looked at, the liquidity side of things. where you had problems with institutions was around liquidity. i think a lot has been done in those areas, which is good. the biggest issue is, where do we stop? are we going to continue to ratchet up the requirements? my belief is that the financial system is very important. the banks are very important to promoting financial growth economic growth, job creation. we have to keep that in mind. at some point, i do think enough is enough. manus: you can catch that full interview at 7:00 p.m. tonight right here on bloomberg. francine: up next, the turkish currency plunges as the country's party loses its majority. we have the latest from istanbul next. the twitter question of the day

now a fox business exclusive with brady dougan. welcome to the program. >> thank you.of your accomplishments and what an eight years it has been. >> pretty challenging eight years. maria: you're leaving at the end of the june. how are you feeling about this? >> well, you know, i think we've accomplished a lot so we obviously got through the crisis well. i think we were one of the few large banks around the world not to have direct government support so that was great. i think we've been one of the most constructive banks in terms of engaging on trying to make the markets safer and sounder and the financial system better. we've done a good job there and changed the business model dramatically. it leaves us in a good place and a lot of challenges out there and you know, those will have to be, have to continue to manage through those. maria: i want to talk more about the way you led the firm and the direction that you leave it for your successor. the good news here, you missed some of the big litigation issues like the fx settlement, the libor settlement, credit suisse no

brady dougan said enough is enough.he point where he tries to end banker bashing. >> stocks of around half of 1%. >> this is a big weight. it matters in that sense. we have seen the dax go into correction territory. >> another 10% downsize. i hate to put words in your mouth but bear market? is that where we are heading? we are heading for a sixth straight day of losses. the emerging market heading for losses. >> the correlation actually beginning to tighten up a little bit. >> where do you hide? the correlation between bonds and european stocks at a one and a half year high. it is very hard to find somewhere to hide. >> they are getting paid more. it is becoming more attractive. >> we had the chinese inflation data out, which factors in. we had some interesting regulators as well. factory price inflation is down from march of 2012. >> the chinese equity market tells we we are in a beautiful place. >> the fact you may and up in a situation where they are telling a different story for quite a while. >> it is becoming a ch