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So Ben Bernanke at one of the questions that he did.
-- Was this new study that came out of the -- -- it talked about -- what any economist from the IMF talking about the benefit that big banks get.
From low interest rates and this is this -- 83 billion dollar benefit what do you think about that I.
-- just honestly read the study among its fitness someone basically said it is implied reading benefit from government because they -- because we just can't afford to debt.
Forget what -- and said look what the market does.
That subsidy does not exists in the marketplace.
The -- of the world doesn't initially buy things based question and worries Moody's -- import when you got the actual people buyer that we pay pretty hefty risk premium always have.
So I I don't know -- numbers come from and yeah we're just trying to quantify what that benefit that you get from the lower interest rate over time but wasn't welcome to study the really is not it's artificial once again we're using.
-- -- -- -- -- -- -- -- -- At the end of the day if they raise rates what difference would it make -- you would.
They raise rates yeah I mean that's the argument about artificially low rates enable you to make an extra profits already -- it even with.
That's even sillier go these guys who commit chart of the low rates actually hurt our profits.
And and the American public doesn't know that we -- you.
We pay the FDIC -- point five billion dollars billion dollars a year.
We're already paying huge think the government help people other banks small bank failures -- -- so.
I just don't buy this argument to Seoul one sided there than what one day he would sit down and be factual conversation about.
Why you have big banks while you -- small banks and and then called the rational policy.
I'm feeling really daring -- -- Ryan -- this sound -- again -- -- actually happens let's talk let's let's get a shot.
The benefits of being large argument -- is small and are gonna decline over time which means that some banks are gonna voluntarily.
Begin to reduce their size because -- -- getting the benefit that they used to get -- -- -- unless they raise your predictions are missing her earlier testimony that so far it looks like they get an 83 billion dollars for staying fit well that's -- study senator you don't know whether that's an accurate number.
Okay we'll go back to look at it again if you think these are probably get the -- problem.
Does it worry.
Of course I think this is very important and I think we needed -- we're putting a lot of effort into this.
So my question -- -- what we just Elizabeth Warren for Valentine's Day I'm not sure.
She got it I have a final wish recur this is one study.
Which I think is quite button on factual.
And you know if you look at the the American business enterprise -- big companies -- small companies.
You know but JPMorgan -- does things -- more banks can't do we kept city's schools states philanthropy he's alive -- -- -- stood.
The case we -- we actually check this number to small banks -- big banks to more lending in the crisis the big banks did.
For dollar capital so look I'm personally went to get involved -- kind of debate but should be factual and not one thing taken -- context in.
Guy I eagle -- Elizabeth have a great relationship you -- -- sure I want vertical -- -- but me and see what we do for America.
Like since it for the last five years we've -- seven point five trillion dollars to consumers and companies.
Seven point five trillion and we've -- you come -- Texas here we've helped those companies go around the world expand their plans here.
As we do.
And -- damn proud of it.
She talks about -- regulation against too big to fail having failed to its self.
What do you think about that do you worry about her going forward break up the banks do you.
But -- look we have a common interest and been limited too big to fail.
So I don't think anyone thinks we should is too big to fill concept and it really -- quick bankruptcy.
And we're afraid -- that so where will we and the regulators never working towards that purpose.
Who that we need we need the American public to believe we need our senator congressman to believe -- put.
They have official to work yet -- the -- of the finish at the end of all that people really believe it's -- the break up the big banks.
And one day you you'll be sitting here trying to -- white Chinese banks on the American -- OK and America has the best widest deepest financial capital markets.
Anywhere in the world McCain -- -- event -- much about Walter from a venture investing.
Individuals corporations is part of the engine that made this country great.
Before we really messed up with that let's have a real thoughtful dialogue about it not just sound bites.
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