I Do Think There Will

We, Americans, Have The Best Country On The Planet. We Have Schools, Universities, Food, Water, Energy, Peaceful Neighbors, Low Corruption, You Name It, Deepest And Widest Capital Markets. That Doesn't Mean We Shouldn't Identify Problems. We Don't Have A Divine Right To Success.

The Term "too Big To Fail" Must Be Excised From Our Vocabulary.

Let's Look At Lending, Where They're Using Big Data For The Credit Side. And It's Just Credit Data Enhanced, By The Way, Which We Do, Too. It's Nothing Mystical. But They're Very Good At Reducing The Pain Points. They Can Underwrite It Quicker Using - I'm Just Going To Call It Big Data, For Lack Of A Better Term: "why Does It Take Two Weeks? Why Can't You Do It In 15 Minutes?"

Look, In Any System, You Want Highly Ethical People Who Really Understand Issues To Form Policies And Make Tough Decisions. You Need All The Right People In The Room. But There's A General View In Washington Now By Many Politicians That If You Ever Were On This Side, You're Conflicted For Being On That Side.

You've Seen Certain Credit Type Products That Are Going To Be In Nonbanks, Like Sophisticated Clo [collateralized Loan Obligation] Tranches And Stuff Where The Capital Charge Is So High That A Bank Simply Will Not Own It. Someone Will Buy It, Hedge It, Trade It. But It Won't Typically Be A Bank.