so this is where we have to apollo xiii, what do you have available? let's put together modelling and figure out how to go. we are looking at a -- you know, all presidents are created equal, some are created more equal than others to quote "animal farm." this is case you have to figure out -- this is not bad yet. it is bad but could be worse. egypt is not libya. i think there are things here we need to consider. they still have some level of society order. you know, things are still functioning. still a culture. >> jobs. >> other thing to remember here, i know what people said in the military, step aside. the vote was split right down the middle. we are talking about a very close vote here. the military has to maintain some level of order no matter what happens. that's what got us here so for. double-edged sword. they may be slowing down progress. >> real lesson in egypt and indeed the entire middle east for how we use our instruments of policy. military knows what it is doing. if you want to stop blowing up people killed, throws the guys to go to. it

dennis, if you were to look at this from an apollo xiii standpoint, not fantasyland, not what we wished we had, not what we think it should be, what exists today? $700 trillion in swaps, big banks intact? we know what exists. central brangs supporting it. if you could go to d.c. with one piece of legislative proposal right now on the heat of the jamie dimon conflict much interest of federal reserve, all the -- what was the one -- what would be the one bill you would put in front of our congress this summer that could move us closer to the direction mike mayo is talking about right now? >> i think -- put your finger on the first step of a multistep bill which is capital is important. we know from -- through history, the capital can easily be manipulateded. risk weighted capital. it is really not going to solve the problems. we know from history that this industry was regulated massively after the great depression. during the great depression. it created layers of protection from the industry which is why it took them about 20 years to break down all of those protections. we need to put t