Jake Silverman

is under construction right now.

So I think it would just be a geographical shift of the exposure that we'll see.

Yeah, I would agree.

I think like when Steve mentions moral hazard, I think about like the entire economic level of that.

It's like you can't you can't expect your economy to grow if you keep incentivizing the things that made it not grow.

Right.

And keep keep allowing bad models to fail.

Like and that is the thing that I think that policymakers need to be careful with and they're not being careful with.

Like if you

We we grow by failing, right?

Like people say, make as many mistakes as you can and learn from them.

Like, OK, like, let's let these things burn and not fix like and make sure that they don't happen again.

You know, and there's been many layers to it.

You had blanket appraisals, which you didn't get a chance like that was a private sector bailout by the big six banks that was pushing this along.

for the last three years that did that made it not unnecessary for a government intervention to exist right where they were allowing they were basically doing loan to values above or they were lending a loan to cost and loan to current market value was over 100 and it was an issue because it was a technical bank act violation then you had uh i mean now you have the osfi osfi allowing them to shore up room on the capital uh adequacy requirements so that you know you can probably take on higher loan loss provisions without really impacting your uh credit ratios so

uh i like i mean i can understand why people would feel that way because uh of the relationship of you know certain individuals in in the market that uh to the i'm trying to get you in trouble for the party's fundraising well like i just uh like yeah i mean that's everything man and that happens on both sides which is why i just like despise uh partisan politics it's like who can who can um

who can allocate enough special interest resources and funding and win the election and then, and then, uh, redeliver benefits back to the special interest resources.

And meanwhile, we basically, uh, tear the entire, uh, general populace that are excluded from this club apart by making them hate one another and paint each other with different, uh, you know, uh, hockey Jersey colors really honestly, man.

And like, but, but by, by, by letting them do that, they win, right?

Like by letting them, uh, make us hate each other, they win.