. >> i am responsible for bringing in hank paulsen. >> did i say ken? i meent snang he used to run "usa today," yeah, go ahead. the conspiracy theory doesn't hold up. i didn't know hank paulsen when i worked at goldman. i wasn't -- i wasn't -- i had a good job. lots of interesting responsibilities, but i was not a big cheese. at goldman sachs in the five years i worked there in the late '90s. as my government career took me higher and higher positions, i found that also tended to elevate what i had done before so that in the telling of it, i went from being, you know, moderately senior official at goldman sachs to being a run in

i didn't know hank paulsen when i worked at goldman. i wasn't -- i wasn't -- i had a good job. lots of interesting responsibilities, but i was not a big cheese. at goldman sachs in the five years i worked there in the late '90s. as my government career took me higher and higher positions, i found that also tended to elevate what i had done before so that in the telling of it, i went from being, you know, moderately senior official at goldman sachs to being a run in europe for goldman sachs, which i didn't. what i did know when i became chief of staff was that we had gone already five years, already five years in the bush administration without a significant financial crisis. i knew from my experience from goldman and elsewhere that it's very rare that an administration can go for years without some kind of internationally significant financial crisis. so when i came in as chief of staff, i told the president that as our incumbent treasury secretary was beginning to come to tend of his -- >> john snow? >> john snow. he had served for three years and was beginning to come to the

. >> what goes through your mind when hank paulsen comes on our air and says we begged and pleaded withk, that was a time when people who h to do what they had to do. i hate to sort of monday morning quarterback things that happened years ago. we're in the circumstance now, i think we're moving forward. i'm pleased they've taken responsibility in this regard and i'm hopeful that the culture of corruption will be shifted now. i think this is a really good start to that. >> commissioner, last time you were kind enough to come on, you were detailing to us what people could get away with on the markets because so much of what you do is shut down due to the sequester. now that you've got this fine from jpmorgan, when will they pay it? will you be able to open up and have more bodies on the bead and if y -- beat and if they do that, what will people not be able to do that they can do now? >> i commend our enforcement staff. the team did a super job on this, particularly given the shutdown because we really don't have staff. we had to call people in on an emergency basis this morning to proces