The Role of SBB in the Dodd-Frank Act

SBB did not have to basically mark the market? They didn't have to revalue their assets, born prices went down. So that's a regulatory failure. Just moving it from 50 to 250 and therefore letting a lot of these banks go under. Now, there was supervisory red flags as well, which I think the Fed did not see. But you had explosive acid growth in SVP quadrupled its assets in four years. That by itself should tell you, there's a lot of assets. What are they doing with it? A lot of that was uninsured deposits. 97% of SVPs thing was about $250,000, which meant that it was not insured.