hoenig, you said that when gram laj -blily passed in 1999, you said this in 2009, the five biggest banks held 38% of the assets in the financial industry. that had then grown to 52%. i'd like to ask you both, each of you a three-part question. start with dr. hoenig. tell me what the greatest growth and consolidation has meant in three ways. one, for the management seeking to understand the companies they are running, so this huge growth, what it means to people actually in charge of running these institutions. second, to the authorities monitoring these risks. how have the regulators been able to both understand and regulate these much larger entities. and third, what it's meant to the community banks that are competing with these ever-growing mega banks. dr. hoenig, start with you on the three questions and the three-part question, then dr. kroszner. >> if i can, senator, i'd go back to my confirmation hearing when it was pointed out that if a bank is well capitalized, well managed and well supervised, it won't fail. if you think about the decade following bramlage-blily, allowing these