do you feel they chirk compensation adequately reflects your behavior, and if they can have a compensationd people for taking the longer term view as opposed to maximizing the short-term profitability? >> commissioner, the last compensation we did in 2008 and we have not announced our compensation -- we announce the results for the year next week. but in 2008, the cycle which we already went through in the heart of this downturn, we took our firm-wide compensation and, including people whose compensation is hard to take down because their secretaries and staff. our overall compensation when down about 15%, which was in line with our performance. the senior most people in the firm were down 80%. and then named executive officers, myself, the ceo, the vice-chairman, the cfo bonuses were down 100%. we took no bonuses. given the circumstances, that was quite appropriate. and so that as far as our structured, we of always -- we have always had our work, and if you look at our compensation, it always correlated with the results of the firm. as it did last year, and that is something that emanate

do you feel they chirk compensation adequately reflects your behavior, and if they can have a compensation longer term view as opposed to maximizing the short-term profitability? >> commissioner, the last compensation we did in 2008 and we have not announced our compensation -- we announce the results for the year next week. but in 2008, the cycle which we already went through in the heart of this downturn, we took our firm-wide compensation and, including people whose compensation is hard to take down because their secretaries and staff. our overall compensation when down about 15%, which was in line with our performance. the senior most people in the firm were down 80%. and then named executive officers, myself, the ceo, the vice-chairman, the cfo bonuses were down 100%. we took no bonuses. given the circumstances, that was quite appropriate. and so that as far as our structured, we of always -- we have always had our work, and if you look at our compensation, it always correlated with the results of the firm. as it did last year, and that is something that emanates -- we have been a fir

do you feel they chirk compensation adequately reflects your behavior, and if they can have a compensation structure and place that will reward people for taking the longer term view as opposed to maximizing the short-term profitability? >> commissioner, the last compensation we did in 2008 and we have not announced our compensation -- we announce the results for the year next week. but in 2008, the cycle which we already went through in the heart of this downturn, we took our firm-wide compensation and, including people whose compensation is hard to take down because their secretaries and staff. our overall compensation when down about 15%, which was in line with our performance. the senior most people in the firm were down 80%. and then named executive officers, myself, the ceo, the vice-chairman, the cfo bonuses were down 100%. we took no bonuses. given the circumstances, that was quite appropriate. and so that as far as our structured, we of always -- we have always had our work, and if you look at our compensation, it always correlated with the results of the firm. as it did last year