In the aftermath of the crash, the Irish Financial Regulator says it has adopted a more intensive and intrusive regulatory approach, increasing its on-site presence and focusing on corporate governance, risk management and business strategies.  Speaking at the launch of its annual report for 2008, the Chairman of the Financial Regulator, Jim Farrell, said the exceptional scale and rapidity of the decline in the economic environment at home and throughout the world made the task of regulation extremely difficult and, in turn, resulted in regulators everywhere being behind the curve in taking sufficient pre-emptive action. Also today, TCD economist, Professor Patrick Honohan said fixing Irish banks is not going to result in a return to the banking of the boom times.