haircuts be imposed on finance but my concern is with the word reform remembering my friend boris calder lecky who once reported that every time the former soviet union had a reform of the bureaucracy it grew by fifteen percent. i think we we really need to see something very very quite extreme in terms of a contraction of the financial sector and just one more comment is randall ray at the university of missouri kansas city and noted in the one nine hundred seventy s. finance had something like fifteen percent of corporate profits in the united states today that share has been roughly forty percent there is just absolutely no justification for this kind of rent seeking off of the rest of the economy you know peter if we if we can go back to you in new york i mean a lot of the austerity issues cut jobs it's created out of employment actually. right so i think that's been a problem at the same time let's look at the other and one of my favorite statistics is that the average unemployment rate in spain is about twenty two months it's no coincidence that unemployment benefits run out at twenty fo