there are a lot of people, including john thain, who think that is ridiculous or too small.it $100 billion. he has some allies, republicans in the house who have passed a bill or are advancing the bill that would eliminate the designation at $50 billion. but at the same time he faces some opposition. janet yellen said yesterday she might support raising that number by a modest amount, just not a lot. onty: so he has that fight his hands and will continue with it. just on that vein about overall regulation and dodd-frank -- erik: it is inevitable because he has a front row seat. goldman sachs, merrill lynch, now cit. john thain always has views on what is right and what is wrong with regulation. >> one part of dodd-frank that i think was a mistake was evil or rule because proprietary -- was the folder rule. rule. volcker that part of the rule was unnecessary and does in fact restrict the bank possibility to make markets -- the bank's ability to make markets. that is not a good thing. erik: here is the thing -- he does not think it needed to be in dodd-frank. the problem is th

thain onoming up, john "bloomberg ." ♪ >> welcome to "bloomberg ." schatzker. we are pumped up. david: we have to welcome some of you and that is none other than the chairman and ceo of the cit group. makes for coming. we will continue in just a second but here's the first word. -- will be at the center of the investigation into the russian plane crash. u.s. and british officials speculated that he vomited brought down the airplane last saturday in the egyptian desert. david cameron now says that is not certain. another 3 million migrants are expected to leave before the end of 2016. that's the latest projections in the european union. more than 700,000 refugees are seeking sanctuary this year. germany taking in 181,000 migrants. carter secretary ashton symbolically underscores america's territorial disputes with china. visiting a u.s. aircraft carrier in the south china sea. it station near artificial islands built by beijing. the u.s. does not recognize these islands as sovereign territory. china and the philippines are conceding claims in the area