A loose quote from James Wrynn, former New York State Superintendent of Insurance, speaking at out ITC 2012 event in London: Crises happen at high speed, but regulation is evolutionary and must proceed steadily.
There's a saying that fast laws tend to be bad ones. (Tell me about it.) The same goes for regulations. You have to be sure a crisis is really resolved before you try to overhaul the system. As the shock waves from a crisis lessen, you can start to make small changes. (Amen.)