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CharlieGenerally speaking, there is still too much risk in a lot of high finance. And the idea that Dodd-Frank has removed it all permanently is nonsense. And people like hanging onto it. You know, trading derivatives is a principle if you're shrewd. It's a lot like running a bucket shop in the 20s or a gambling parlor in the current era. and you have a gambling parlor that you have a proprietary edge in and you say it's sharing risk and helping the economy and so forth. And that's mostly nonsense. The people are doing it because they like making money with their gambling parlor and they like favorable labels instead of unfavorable labels. So I think there's still danger in the financial system. And I also think our competitors don't like it that they deserve regulation and we don't. and I think there's danger in that too. My understanding is that Dodd Frank actually weakens the power of the Fed and to some extent the Treasury too to take the kind of actions they took in 2008 primarily. And those powers were needed to keep our system, in my view, from really going into utter chaos. the ability to say and have people believe you when you say it that whatever needs to be done will be done has resided in the Federal Reserve and with the Central Bank, the European Central Bank. You saw what happened in Europe when Draghi finally said that, and you saw what happened in the United States when Bernadhi finally said that, and you saw what happened in the United States when Bernard and Paulson more or less together said it. And if you don't have that, panics will they will accelerate like you cannot believe. You know, in the old days, the only way you could stop a run on a bank was basically for somebody to come and pile up gold. I mean, they used to race it to the branches that were having a problem. I remember reading the history of the Bank of America on that and how they would put out runs before the Federal Reserve. have existed. And the only thing that stopped it was to pile up gold. I mean, if the CEO of the bank came out and said, you know, our Basel 2 ratio is 11.4%. The line would just lengthen. It would not get the job done. Gold got the job done. Bernanke got and Paulson got the job done. But the only way they got it done was saying, we're guaranteeing new commercial paper. We're guaranteeing that the money market funds won't break the bank. We're going to do whatever's necessary. I think Dodd-Frank weakens that, and I think that's a terrible thing to weaken.