What do you think of this punishment? Is this really harsh? Is this less harsh than a fine? What do you think of this?
LEVINE: This is a pretty salient punishment, right? It gets people’s attention – one because it is kind of novel. But also, you know, banks, their business is to grow, right? Like, bigness is a virtue for the big banks, right? Handicapping your ability to grow into new areas gets the continuing attention of bank directors and executives more than a fine would, right? Like you write a check, then you have less money. And you kind of go figure out how to make more money. Whereas here every day, as you try to figure out how to make more money, you are constrained by this enforcement action. So it just requires them to pay more attention than a fine would – even a pretty large fine.