i am just asking you a question. in your utopia university. in my utopia universe, it wouldn t just be banks that would have a line it would be individuals, anybody that wants to charter a new bank. glass steegle was not to increase the chartering of narrow banks. if you want to start a narrow bank, you can charter it. deepak, i am going to let you respond. canada, germany, other countries with banking systems that had high levels of regulation, don t have huge foreclosure crisis, they made small reasonable rates of return doing plain vanilla business. the key in canada, canada didn t have glass steegle, which is a real important point. they had universal banks. the key difference in canada, the key difference in canada was canadian regulators said bozle 2 is not good enough. they said to their banks, we are
question. in your utopia university. in my utopia universe, it wouldn t just be banks that would have a line it would be individuals, anybody that wants to charter a new bank. glass steegle was not to increase the chartering of narrow banks. if you want to start a narrow bank, you can charter it. deepak, i am going to let you respond. canada, germany, other countries with banking systems that had high levels of regulation, don t have huge foreclosure crisis, they made small reasonable rates of return doing plain vanilla business. the key in canada, canada didn t have glass steegle, which is a real important point. they had universal banks. the key difference in canada, the key difference in canada was canadian regulators said bozle 2 is not good enough. they said to their banks, we are going to require you to hold