there is the reality of sallie krawcheck in the trenches like a lot of these people. at. opinion, all the meetings you gone to over the meetings over the years after your work at duke university, -- sallie: he went to duke? tom: we wanted to get you going this morning. we will get to duke and unc in a minute. how have the meetings, the desperation, the sweat, how has it changed with senior bankers? michael: to sally's point, deutsche bank last year said we have 30 tech systems and we need to bring that down to three. you have so many platforms at these banks it makes it tough. you are starting to hear some things that are not just about changing around margins. it's like a radical rethinking of the banking business. there has been talk that some banks are going to have the client relationships and they are going to do that solely through tech and some will be balance sheets that other banks rent. they will be these pools of capital that don't have any interaction with the ultimate client. that is a major shift in the way people are thinking about how banks work. tom: c

you need to bring sallie krawcheck back on.ghter] francine: i tried it to banter with madame lagarde. we joked, but it was very american. she is way too european. it's all about the banks. an exclusive interview with a credit suisse co. he was asked by rishaad on the penama papers -- where they really impacted by the allegations of the swiss banks? many swiss bankers referred them to panamanian lawyers. >> we only do it if they a legitimate purpose. every client has to certify to us that he's compliant, otherwise they have to leave the bank. and then there is a structure that is beneficial, and we insist on knowing who is the beneficial owner or we will not engage in business with that entity. francine: michael, how much do we know about current swiss practices for private claims? are these things that haven't put behind them? new regulations that will come into place, that will hurt this was thanks? >> well, you are starting to hear from the regulators that they are taking a look at this, and as you would expect, they are star