corps a member of the bank's financial policy committee said it was a big number well andy haldane the bank's executive director for financial stability agreed it was material so as you see they don't know they they say it's substantial it's material and it's a big number right royal bank of scotland will require another massive state bailout which will require more austerity now horsemeat was popular in the u.k. after world war two as part of our rationing exercise due to the economy being blasted by the war here you've got a currency war going on our royal bank of scotland has taken a position against the population of britain and as a result of our economy is being flushed down the toilet and people in britain will be lucky to get course me i predict within eighteen months outright cannibalism will break out in the east side of london and people beating each other to survive well again you know bankers will be baxter's because there are no laws against their banks to activity i'm talking about the population of britain the population of britain would not have known for example that

its bonds to use haldane's term letter upon better off regulators and reflation. more than 800800 pages of regulations that party been proposed and the process is not yet done. in his speech how they noted conservatively in my field that a survey of the federal register showed complying with these new rules require 2,260,231 labor hours each year. he added and i quote of course costs of this bigotry edifice would be considered small to be delivered modest improvements to a regulators -- regulators. it includes modern finance is complex and perhaps too complex. regulation of modern finance is complex and almost certainly too complex. that configuration smiled -- spells trouble is you do not fight fire with fire and did not fight complexity with complexity the situation requires a realtor in response grounded in simplicity not complexity. delivering that would require an about turn. the dallas federal reserve's proposal offers an about turn and way to amend the flaws in dodd-frank. i will speak of it this evening. it defines simplicity with complexity and eliminates