This matters for other reasons that he gets into pretty quickly. Lending is really drying up fast.
Not sure I disagree that we’ll see fewer small banks. But he seems to be saying, without saying it, that he doesn’t think FDIC insurance should exist. And that would be a bad idea to get rid of that.
He is a smart man with thumb on the pulse but his ideas are conflicted with his interests. No harm in that. Not paying FDIC insurance might help today it will hurt tomorrow. He is involved with some of these entities which means he has made objective decisions but his presentation is actually a bit more subjective.