Is It a Governance Failure?

I wonder if at the center of it is some kind of a governance failure, which is I think endemic and maybe associated with the regulatory approach. But I wonder if the bigger problem is a little bit of a governance problem. It's regulation on one part, but then just sheer size and what size means in these businesses right now. And much of this has to do with just IT spending, JP Morgan spends $12 billion a year on IT. They like to say that they employ more technologists than Google, which is really like mind-bend.