[applause] >> alan bersin, thank you. we appreciate your comments about the partnership which is not just rhetoric. we appreciate that very much. we have a few moments for questions if there are any from the floor. please wait for a microphone and identify yourself. >> good morning. kathryn robinson from the national association. thank you for everything you said today and changing the paradigm. i have a question and risk-management and risk fragmentation. if you could explain how those are different from each other that would be helpful and if risks segmentation would then involved treating traders differently than the rest of the trade because that has been my understanding of risk-management better practice we haven't seen. >> the two were obviously related. risk-management is the acquisition of information and application of targeting rules that permit you to differentiate the risks. when i say segment the risks i am referring to the way in which you then treat the adjustment about the threat presented so more strictl