when we discover we have a problem, we generally are very cathartic nation. it.lk about -- we fixed so in 2009 secretary tim geithner proposed the stress tests. we aggressively over four months raised $80 billion for these new banks. -- these banks. today, they are on their third stress test and this is being run by the ecb. we are so much further along. our banks are looking to put money to work. in europe, the banks are still deleveraging as we speak. in the united states, we need more loans. with respect to monetary policy, is anything remaining to be done or is that not going to be a factor as you see tapering? len spokeoman yel today that she will carry on the policy that chairman ben reinforces concept of low interest rates for a long period of time. and she reaffirmed the need to reduce the bond purchases and continue with the tapering. the one thing that people forget when we talk about the tapering, everybody gets concerned about what does this mean? we went from u.s. federal deficits of $1 trillion or more to deficits that will be around $600 billio

when we discover we have a problem, we generally are a very cathartic nation. >> let's fix this. >> we fixed it so in 2009 secretary quitener proposed the bank stress test. we aggressively over a four month period of time raised $80 billion of new common capital for these banks. in europe teed, they're on the third stress test and this is to you being run by the ecb. so we are so much further along. our banks are looking to put money to work. and europe the banks are still deleveraging as we speak. and in the united states, as we said, we need more loans. >> rose: and with respect to monetary policy, does anything remain to be done or is that not going to be a factor as you see tapering? >> chairwoman yellin spoke today that she's going to carry on the policies that chairman bernanke. she reinforces this concept of low-interest rates for a long period of time. and she reaffirmed the need to reduce the bond purchases and continue with the tapering. the one thing that people forget, and we talk about the tapering. and everything gets concerned about what does this mean. we went from u.s.

cathartic. theought it described dilemma, the balance that must be maintained between protecting national security and protecting civil liberties and privacy. to the workcredit of the intelligence community and specifically the men and women of the national security agency. as well, we have i think a task list, which i briefly outline to my oral statement, that we will work away at. believer in i am a as much transparency as we possibly can inject into this, this whole dialogue, but at the same time protecting our sources and methods and tradecraft, so i think -- i personally think with all that has happened, and we goodn a reasonably place here, but we will need a supportive you and the congress. >> there are other issues with our allies because of other allegations like that, that they have a concern maybe in working with us. do you feel that there is a problem with that relationship? from what i understand, it is more on the political side then it is on the intelligence communities themselves will suck could you address that issue? the intelligence communities side. could you address that issue