Mr. Speaker, the question is an extremely cogent one and one that will require more study than I am prepared to give it in the next two or three minutes. The fact remains that the elimination of the four pillars that I mentioned in my speech where we had a separate and distinct function for trust companies, for insurance companies, for investment dealers and for banks was a useful distinction.
Now that the banks are doing all of these things we have this concentration of power. Somehow there has to be either more competition outside the banking field so this can happen, or the whole idea of concentration within the banks needs to be re-examined. I would suggest the Bank Act has to be reopened, as would certain other legislation. It would be a very useful exercise for the House to get involved in that type of activity.