me perhaps unique is that my career began and ended with bob glauber. [laughter] since particularly this week i think i ought to be careful with the proposition that i learned in that last walls, because bob was on the board, i was the ceo, and the proposition i used was my career ended with bob, not by bob. this week particularly i am sensitive to making sure everybody knows we ended up our time at freddie mac together. i am also pleased that the subject of the glauber lecture tonight is freddie mac and the gse so i have an opportunity now that i'm no longer the ceo of [speaking french] have an opportunity to present a balanced view of the gse. this is a subject that is freddie mac gse that i've come to see others speak very aggressively, emotionally. it is a subject that gets very heated and uncommon for people to prevent that balanced view. in fact my goal tonight is to present a balanced view and if i succeed i think it may be the first time that there's ever been a balanced presentation about the gse. certainly the employees that worked with me or

glauber 11. and since particularly this week i ought to be careful about the preposition i used in that last claus because bob was on the board. the preposition i used was my career ended with bob, not by bob. this week particularly, i am sensitive to making sure everybody knows we end our time at freddie mac together. i am also pleased the subject of the robert glauber lecture is freddie mac and the gmc so i have an opportunity now that i am no longer the ceo have an opportunity to present a balanced view of the gst. this is the subject, freddie mac, the g s cs which i have come to see others speak aggressively, emotionally. it is a subject that gets very heated and it is very uncommon for people to present a balanced view. my goal tonight is to present a balanced view of the gst and if i succeeded might be the first time there has ever been a balanced presentation about the idiocy. certainly the employees that work with me, were passionate about the functions they perform, almost a religious kind of mission is what they felt they were doing and freddie mac and it was hard to imagine there were other people