andrew donohue is with us now. he's the director of investment management at the securities and exchange commission. andrew nice to see you. welcome to the program. is the agency prepared for these perhaps thousands of new registrants? i think we're very capable of handling any mission were given. these advisers were and irs men would be 1000 or 2000 additional advisers for us to handle. we currently handled 11,000 plus investment advisers. and i don't mean to diminish the challenges we would wind up having but the investment advisers at the administration had suggested that we have responsibility for clearly in my view at the few of the commission should be with the regulations. but take a look at a list of these. hedge fund advisers, private equities advisers, venture capital, and it was a couple years ago that the sec tried to regulate the hedge fund in a court of appeals threw it out calling it and arbitrary rule. what's different this time around? well a couple things. one i think with respect to our goal i tho

we spoke with andrew donohue, director of the investment management division atthe securities and exchange commission. >> can they make money markets safer and still provide a bit of return for investors? >> it's interesting that you put it that way because that's a pretty good insight on your part. we could make this the sayest investment -- safest investment anybody ever had and it probably wouldn't be attractive to anybody with a degree of return. no matter what we do, i think we run the real risk that we kind of overregulate it from washington. what came out of the haft two years -- i wouldsay that the breaking of the buck by the reserve fund and what occurred after that is just one part, one chapter of really a somewhat lengthy book that has been written over the last two years. and the challenge is that the money market funds have met during that period of time and what we're doing here is there are certain lessons that we learned and the industry learned. >>s there a concern that some of these new rules could impact the rewards that investors can reap with money markets, like trying