we do not need to be arbitrarily proscriptive. the market actually gauges that type of activity.st to doing things that are not in the best interests of the company in the long-haul. those things will help us keep from getting back into systemic risk. i think clarity is important. host: i want to ask you about haiti. what do you think the u.s. commitment should be long-term? guest: i think we need to have, as i mentioned to secretary clinton, i think our role needs to be one tick stronger than it has been in the past. it is a democracy. it is a free country. i think we need to be with the aid that goes to haiti. we need to be slightly more forceful -- i hate to use that word -- but as it relates to reforms. this country has wonderful people. haitians flourish here. all countries, and all non- profit and volunteer organizations, have worked around the government of haiti. one of the reasons there are so many coordination issues as it relates to ngo's is everybody is working around the government. preval -- i like him. he has been better than what we have had in the past. the fact

and they follow the same general proscriptions. >> dr. volcker, it's my understanding with counsel that under existing laws in regulatory authorities existing laws banks in holding companies can be limited with respect to trading companies including proprietary trading under the safety and soundness considerations. could you explain why you believe current authority is not adequate if you do.g4 and why you believe regulator discretion should be eliminated by statutory proscription? >> well, this is another area where i have -- >> you have concerns we do with a lot of the regulations or the regulators? >> i've been around a long while. >> i know. >> partly as a regulator. sometimes contesting with the regulators. and i'll tell you, if you just have a general commission for regulator to put on adequate controls, the regulator ends up with an impossible position during fair weather because all the banks will say what are you talking about? nothing is happening. my trading is perfect. we haven't had any big losses. you can't restrict us. i'