>> you ring fence and separateo. have a different governance structure, have different capital attached to it. the reason being when someone doing my job faces that impossible choice on a saturday night as my predecessor did and various u.s. treasury secretaries did, do you let the big bank fail? you want to give the person doing my job some options and you want to be able to bail-in the creditors. not bail-out with taxpayers' money. it's part of learning what went wrong, learning the lessons of what went wrong, the repair has taken some years but i think we're getting there and it's part of a platform of economic stability and progress that helps -- >>rose: was most of dodd frankry and american system in principle right there? >> i have a huge response forpae approach that he has recommended and the u.s. political system has pursued. we pursued a slightly different approach but it's all about the same thing, managing risk in your financial system. i want london to be the preeminent global center for finance but i wa