daniel roth, president officer of the national futures association, and suzanne cosper, financial accounting standards board's. i will remind each of you that you written statement will be made a part of the record, and we ask you to summarize your testimony in five minutes. sir, you are recognized. >> chairman isabella, ranking member and members of the subcommittee. my name is diane genova. i am the executive general council for j.p. morgan chase. i was one of the j.p. morgan officials dealing with the mf global over the weekend on october 31, 2000. i appreciate the opportunity of the subcommittee of organizing these events. i would also like to thank chairman bachus for organizing this committee. as i will describe in more detail, j.p. morgan professionals work through the week of october 24, to accomplish two main goals, first to provide first-rate operational clearing and settlement to mf global. second, to make sure that we do not wind up in a position where we had extended credit to mf global without proper collateral and security protections. contrary to what we are trying to accompl