Mr. Ajai Chopra:

I think ... you've defined banking. Banking is raising short-term money and lending long term, and so that's what banks do. So, you know, that's why banks need to be regulated. Again, it comes back to having strong governance of banks, strong supervision, strong regulations. I am personally an advocate of leverage ratios which get around the problem of the risk rating of assets which can be gamed by bankers and accountants. So, by looking at leverage ratios you get rid of risk weighting and I'm an advocate of banks having much less leverage and much higher equity. I think that would be a very wise thing for banking systems around the world.