Three Things You Need to Know About Regulations

The risk folks at SBB just made a really large miscalculation. They basically went and bought 10-year risk in order to pay back money that could be called on a daily or weekly basis. But more importantly, Chamorrh, they didn't adjust fast enough. Well, they can't because they have these market assets that were just getting clobbered in the head as rates got raised. And then the third thing is around regulators. After the great financial crisis, we went through a period where there was hundreds of bank failures. And then for the last decade, they've been virtually none.