Notes

Do you notice a little pattern here? We don't deal with things until there's some kind of emergency on the table. Why didn't you guys head off this situation six months ago? Because the requisite magic wand wasn't available, Doug. And what do I say when they ask me why it wasn't regulated? No one wanted to. We were making too much money. There's not a bank in the world that has enough money in its vault to pay its depositors. It's all built on trust. You wanna make them bigger? It's a trade-off, Hank. The upside is it'll stabilize them. The downside is, yeah, they'll be really fucking big. The stronger banks will serve as cover for the weaker banks. If just some of you take it, the money's a signal that a bank is too weak to survive. The market will devour it. I don't really understand why there needs to be so much tension about this. The country is facing the worst economy since the Great Depression. If the financial system collapses, it'll take every one of you down.