If the rules and regulations were followed and if the codes of ethics were adhered to, I would not see much of a problem.
The problem I see is all that information is made available to the public, so they believe they can put their trust in these financial institutions. However, the reality is people are losing billions of dollars every year when they place their trust in these institutions. That is why I've recommended that the committee listen to some witnesses, and what I think should result is the committee should be making a recommendation to the government that they have a public inquiry and not just to listen to one or two or a half-dozen witnesses, but listen to hundreds.
I know from talking to thousands of people within the industry, within the regulators, and the public. I just talked to a 75-year-old gentleman who's learning to use the Internet, and now he's finding out information. He had a line of credit for $70,000 that he took out to help his son years ago. He went into the bank and said he didn't use the line of credit anymore, that he didn't need it anymore, and he wanted to cancel it because it's showing up on his home as an obligation. He has no mortgage on his house and he doesn't need the line of credit. He wanted to cancel it. The bank said okay, but there's a $200 fee to cancel that unused line of credit. That is unreasonable.