The end of the golden age?

People in the industry talk about 2005, 2006 and 2007 as years of splendorous wonders that brought fantastic investment opportunities with amazing returns, essentially due to easy access to debt. The credit crunch last summer has seriously cooled down investors' enthusiasm. Even if the situation is far from the cataclysm that was predicted and the industry bailed itself out rather well, things are irreparably changed. On top of market turmoil, the industry, which had promised to increase information disclosure, has been reproached for its lack of transparency