spoe. and which i will pronounce as spoe. under spoe strategy the fdic said it would use dodd/frank powers to take over the holding company of an operating bank and use the resources of the holding company to recapitalize the bank. thus the bank would keep operating and would no longer be a danger of creating some sort of systemic default. the idea has attracted a lot of favorable attention. but there's one big problem. as pool kubiak, my aei colleague and i showed in a recent paper it doesn't work for the largest 12 banks. the very were ones that might actually be too big to fail. the fdic may have assumed if a major bank fails the holding company would also become insolvent so the fdic could take it over under dodd/frank. unfortunately, none of the holding companies of the largest banks becomes insolvent if its subsidiary bank is wiped out completely. if its investment in the capital of a subsidiary bank is completely wiped out, all of them have other subsidiaries and other activities that keep them solvent. if they're not

spoe and which i will pronounce as spoe. under its spoe strategy the fdis says it would use its dodd frank powers to take over the holding company of an operating bank and use the resources of the holding company to recap tallize the bank the bank would keep operating and no longer be a danger of creating a systemic default. it's attracted a lot of favorable attention but there's one big problem. as paul kupiak and i have shown in a recent paper it doesn't work for the largest 12 banks, the very ones that might actually be too big to fail. the fdic may have assumed that if a major bank fails it's holding company would also become insolvent so the fdic could take it over under dodd frank. unfortunately, none of the holding companys becomes insolvent if its subsidiary bank is wiped out completely. the investment in the capital of the subsidiary bank is completely wiped out all of them have other subsidiaries and activities that keep them insolvent insolvent. dodd frank does not authorize the fdic to take them over. so the fdic

and which i will pronounce as spoe. under spoe strategy, the fdic said it would use its dodd frank powers to take over the holding company of an operating bank. and use the resources of the holding company to recapitalize the bank. thus, the bank would keep operating and would no longer be a danger of creating some sort of systemic default. the idea has attracted a lot of favorable attention. but there's one big problem. as paul kubiak, my aei colleague and i showed in a recent paper, it doesn't work for the largest 12 banks. the very were ones that might actually be too big to fail. the fdic may have assumed if a major bank fails the holding company would also become insolvent so the fdic could take it over under dodd frank. unfortunately, none of the holding companies of the largest banks becomes insolvent if its subsidiary bank is wiped out completely. if its investment in the capital of a subsidiary bank is completely wiped out, all of them have other subsidiaries and other activities that keep them solvent. if they

and the opportunity to do that effectively is spoe rided in the case of the last few days.effective action on the ground of kurdish forces, which gives us the opportunity to support them tactically. >> let's take to jane arraf live in baghdad. tell us first of all about the air strikes arc as i read there were a number of places that were hit just in iraq a loan. >> reporter: absolutely. and it's an indication that isil is indeed, able to fight on many front. when president obama described them as nimble, this is really what he has been talking about in areas where they have been driven out they are attempting to come back and coming back in full force. one would think that that fighting force would have been weakened by now. but in many of these places they are coming out with multiple suicide car bombs or truck bombs even using armored vehicles take friend iraq forces which were originally american vehicles. followed by gunmen and other suicide bombers with suicide vests. so on. >>> days there are more than a dozen suicide bombers trying to detonate themselves. we have sp

which i will pronounce as spoe. under its spoe strategy, the fdic said it would use its dodd-frank powers to take over the holding company of an operating bank. and use the resources of the holding company to recapitalize the bank; thus, the bank would keep operating and would no longer be a danger of creating some sort of systemic default. the idea has attracted a lot of favorable attention, but there's one big problem. as paul coupe yak, my aei colleague and i have showed in a recent paper, it doesn't work for the largest 12 banks, the very ones that might actually be too big to fail. the fdic may have assumed that if a major bank fails, its holding company would also become insolvent. so the fdic can then take it over under dodd-frank. unfortunately, unfortunately none of the holding companies of the largest banks becomes insolvent if its subsidiary bank is wiped out completely. if its investment in the capital of its subsidiary bank is completely wiped out. all of them have other subsidiaries and activities that

fdic has suggested it would do this through a process that calls single point of entry spoe. under the spoe strategy, it would use its dodd-frank powers to take over the holding company of an operating bank and use their resources to recapitalize the bank does the bank would keep operating and no longer be a danger of creating some sort of systemic default. the idea has attracted a lot of favorable attention that there is more than big problem. as paul kubiak might aei colleague and i have shown in a recent paper, it doesn't work for the largest 12 banks. the very ones that might actually be too big to fail. the fdic may have assumed have a major bank fails, the holding company would also become insolvent. the fdic can take it over or under dodd-frank. unfortunately none of the holding company is the largest banks becomes insolvent if its subsidiary bank is wiped out completely. if its investment in the capital is completely wiped out. and have other subsidiaries in the cavities. title ii does not authorize the fdic to take them over. the fdic split strategy will not work. th

north america has been strong for so many of these players and the ones who have less sploes spoes yura and russia still doing well if we see any sort of a slowdown in north america, is that the issue? you know throw netflix into the mix, too. all these high multiples, is there a possibility even though their fundamentals might continue to be pretty strong, people just get nervous and that has an impact? >> it's possible. i can't rule it out. i would say based on our client conversations, investors are gaining comfort that the large-cap names and there has been a divergence in performance year do date between large-cap internet names and small and mid-cap internet names. the large-cap names are the ones that continue to work. people are gaining comfort that scale wins out in the long run and scale showing through in better margins and in gaining market share. you are seeing the larger players in the internet space like amazon and facebook and google gain share. >>> and i think you know the multiples in our view are not unreasonable for those names. so you're getting scale beneficiaries

that's not where the front plate is spoe supposed to go. you don't have to reach for it.ay. do you have your license on you? what is that bottle on the floor there there. >> [ inaudible ]. >> do you have your license on you? >> yeah. i'm gonna ask you get. do you have your libscense on you. i'm asking you a direct question. >> i thought i did. why did you pull me over. >> again the front tag. >> but it is not illegal to have a front tag. >> okay. actually it is. i'm going to ask you do you have a license on you. >> i have a license. you can run my name. >> okay. is it not on you then? >> i don't think i have it on me. >> be straight up with me. are you suspended? >> no i'm not suspended. >> why don't you have your license on you? >> i just don't. i'm sorry. >> where do you stay at? down here? >> [ inaudible ]. >> i still haven't figured out if you have a license or not. go ahead and take your seat belt ouch. >> i didn't do noug. >> stop stop. [inaudible] >> at the press conference just hours ago the county prosecutor was very clear in his assessment of officer tensing's w