going again in the periphery of europe. not only huge budget cuts, but very, very tight access to credit and where is the growth they're going to come from? one part of the comparison of the u.s. is, u.s. didn't have so much tightening, fiscal tightening, although now it has more. the u.s. got to grips. it cleaned up the banks and recapitalized them and we kind of got that bit of the crisis out of the way europe hasn't done that. and the fed, those three are different in europe. >> i have to ask you about the irs. the irs commissioner, some people were appointed by bush. do you know any of them and do you have any thoughts about this irs issue? >> i don't know the individuals at the irs but it raises an important point that people have gotten and one that they haven't. the one they have gotten any abuse of power needs to be investigated. both sides would agree with that. but the part that is really subtle is the fact that there is actually value in a lot of political competition. i...