One of the problems is the still-opaque process the banks use to evaluate and mark securities holdings, loans and other assets to market, aprocess they have torepeat daily because of new accounting rules.
You can imagine how unpopular it would be to add even minimally to our debt problems in order to help rescue Europe, even if in the process we saved ourselves from arepeat of 2008.
Not only did that prevent the repeat of a failure, but it sometimes led to valuable insights on, say, how to make a manufacturing process more efficient.
"Today we're making small numbers of these things in a boutique fabrication process, but while that's reliable and we can repeat it we need to be able to make large numbers of these things over large areas, " said Prof King.