Conversation, thanks guys for joining us. That is Liz McCormick, who is Bloomberg news chief correspondent for global macro markets. And Ben Holland joining us from Washington, D.C. Ben is Bloomberg news global economics editor joining here on the Wednesday edition of Bloomberg business week. In a moment or two, we're going to have an interesting conversation around trying to get control of addictive technologies. This is Bloomberg. Bloomberg radio on demand and in your podcast team. On the latest edition of the Bloomberg surveillance podcast on the banking crisis, a conversation with KBW, CEO, Tom Michel. Beta, you really can't have markets work an economy work at the banking system's not working, and it's really it's a step beyond that because it creates a lack of confidence. You mentioned earlier about a history of bank panics. You can argue whether it was 8, 9, or ten, but let's say roughly ten bank panics in the history of the United States. Banks made mistakes. We just had the second and third largest bank failure in American history. But the banking industry is built on confidence. And when confidence is shaken, it could absolutely impact the whole economy. A two 31 national bank of middlebury. Perfect example of a small bank going, wait, they're going to come in here, cash out and give it to James diamond, explain to us the dynamic right now of the national banks of middlebury out there scared stiff of those top 5 first of all, so it's not only national bank of middlebury, which actually is a bank that you mentioned specifically. But the big banks lead the global banking system. This is an industry where the American big banks lead the global financial system. That's number one. But it's really the midsize banks that I think we need to talk about. And if let's just say for round numbers, the big banks today have 60% of the deposits in America, there is they do not make 60% of the loans to Middle America and small America. So if the deposits are going to the big banks, but they're not the ones making the loans to middle and small America. It's going to have an impact on the economy. And I think long-term down the road, we're