The Speed of Bank Failures in the Digital Age

Bob Greene: I've got a question that's sort of almost a link between I guess the last two questions. The speed associated with bank failures has changed in the modern digital age and does that potentially increase the risk of prospective crises and failures, he asks. And then just relatedly is the speed of regulatory response something that too is accelerating as we go from older crises to present day? He says it took days for hot money to move today it takes seconds; this complicates regulators' decision-making process when they perceive threat of crisis. We're typically providing unlimited liquidity to our depositors overnight on demand all the stuff you just talked about with josh but there were many recently arguing those