Robert Johansen, chair of Bendigo and Adelaide Bank, chimed in on the debate over the consequences of the extensive government financial aid to banks, worldwide, at the bank's annual meeting yesterday."It is a great concern that the swift and effective bail-out of many banks and non-banks by governments will only induce more inappropriate risk-taking in the future because managers and investors now know in a worst case they can be bailed out by the taxpayer."He also voiced doubts that many of the latest bright ideas on financial regulation would be effective.He said rules following the tech wreck of 2000 - he cited the Sarbanes-Oxley auditing standards in the US and international accounting standards that applied more widely -were "now seen as having been largely useless or even contributing to this crisis".Changing perspective, but not topic, Johansen hopped in to APRA's proposals to make banks hold liquid assets equal to 30 days' needs rather than five days, as at present."Proposed new rules governing liquidity for banks will, in their current form, reduce profitability, increase borrower costs and make impossible support for banks by other banks. "This mutual support was a significant help in dealing with the events of a year ago here, when most Australian banks did co-operatively work to support the system and each other."