The Seven M's of Monetary Policy

I was struck by this idea of regulation that we need more regulation across the system. That may very well be the case but that's also then I think you're also making a philosophical statement in terms of the structure of the banking do we have too many banks? And, and my view is I think you know we are, again I mean these risks. And then you have to kind of accumulate over time and if you have too many small banks and yes there is a competition advantage there is a heterogeneity diverse diverse advantage but there's also a big disadvantage that you don't see them. And then they can easily overnight turn into a big event and then it is going to be harder to clean