Does the Federal Reserve Really Need New Tools?

A former Federal Reserve chairman described how a company could come in and purchase one of these small banks that already has OCC approval, apply it the Fed for Fed approval. That basically gets rubber stamped. If you're lucky, the more thorough analysis the Fed might do isn't going to come for a couple years. And so you have a couple years where you can hypothetically, of course, do absolutely chaotic things before regulators like look at the data retrospectively and go, well, that was crazy.