Raghuram Rajan has turned in his badge as governor of the Reserve Bank of India, effective from the end of his first term in September. For many observers of the checkered history of the global financial sector during the past decade, Rajan is the maverick hero. He was professor at the free market-obsessed University of Chicago, yet he saw the fundamental weakness of globalized financial markets and spoke out boldly. At the central bankers' annual get-together at Jackson Hole in 2005, his predictions that global financial markets were headed for a fall provoked a vitriolic response from former U.S. Treasury Secretary ... (full story)