it is a healthy and necessary part if you are a business and want to manufacture more widgets you barrault if you are a small business owner with one store to build the second you will borrow to do that. it is good but what is true of an individual and a distance too much debt is also a true. >> but when you look at that growth opportunity is an inevitable that private debt will lead to that and isn't it in some -- unstoppable? >> it is but controllable by one important tool by a baker that we know intimately is that capital requirements. so right now looking at 10% you have to raise another hundred billion. and it is hard. it is a natural breaking element in the instances of runaway private growth through securitization i was a banker and i did that to. so to minimize the capital recreates that. but to curtail runaway growth it is to increase capital requirements it is as efficient mechanism. >> so post crisis has increased capital requirements but not enough? was an aspect i will get the number wrong but the aggregate capital in the system required is $68 billion. we created 2.5 trillion