The speech he made

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It might not have made him popular then, but Raghuram Rajan's contrarian views on the financial system that were aired as early as 2005 have since become the stuff of legend. Here's hoping RR remains as unafraid of going against popular opinion, if that be the need of the hour, and actively exercise his vast economic prowess as the next Reserve Bank of India (RBI) governor. No one's saying its going to be easy, but it still might be worth its while to give a shot at reviving the Indian economy!

Here's a link to RR's Jackson Hole speech, made in 2005, where he warns against developments in the financial system:

The Greenspan Era: Lessons for the Future

and the paper on which it is based

Has Financial Development made the World Riskier?

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