because if you look, as krugman , someoday in his column of the major actors who caused the 2008 crash were not big banks and would have never been covered by glass-steagall. insuranceiant company, lehman brothers, they would never have been affected by it. what i want to do was crackdown on the banks by assessing a risky and forcing them -- a risk-fee and forcing them to have to comply with. frank --. frank and tougher -- with dodd potential regulations. i am in favor of breaking them up if they are a threat. but the real threat is the what is called the shadow bank world, the hedge funds. glass-steagall would not do anything about that if it were reinstated tomorrow. i have the greatest respect for my colleagues and former colleagues who are really focused on that, but i go further. my proposal, which you can go to my website and read about, goes much further and includes everybody that i think would pose a risk to the economy, including the big banks, but going much further than that. that's why i have taken the position i have. read paul krugman today to understand why. [applause]

because if you look, as krugman , someoday in his column of the major actors who caused the 2008 crash were not big banks and would have never been covered by glass-steagall. insuranceiant company, lehman brothers, they would never have been affected by it. what i want to do was crackdown on the banks by assessing a risky and forcing them -- a risk-fee and forcing them to have to comply with. frank --. frank and tougher -- with dodd potential regulations. i am in favor of breaking them up if they are a threat. but the real threat is the what is called the shadow bank world, the hedge funds. glass-steagall would not do anything about that if it were reinstated tomorrow. i have the greatest respect for my colleagues and former colleagues who are really focused on that, but i go further. my proposal, which you can go to my website and read about, goes much further and includes everybody that i think would pose a risk to the economy, including the big banks, but going much further than that. that's why i have taken the position i have. read paul krugman today to understand why. [applause]