you and martin helwig argue that banks should risk more of their own money and less of everyone else'swhy would they want to do that? >> they wouldn't want to. this is not going to happen voluntarily. this requires regulation. what you have is, for other industries, if you look around, without any regulation, and despite the tax code, rewards that over equity for corporation and for buying homes, too. despite that, no corporation and no regulation gets anywhere near the kind of indebtedness that the banks do. and the banks don't have to be so indebted. yes, some of their business is in taking deposits, which is debt, but to get to have 90% or 95% of the money you're spending be money you've made promises on, to live on, like, a tiny equity margin? no corporation lives like that without regulation. in my part of the world, silicon valley, a lot of risk is taken, more risk than making loans, risk in innovation. risk is taken by manufacturers of all kinds of new industries. and they may have total losses with it, but they don't fund it with so much borrowed money. and so, the banks should