dr. volcker, one of the president's recent proposals is a limit on consolidation in the financial sector. in particular, the president propose -- to quote from the white house press release, quote, place limits on the excessive growth of the market share of liabilities at the largest financial firms to supplement existing caps on the market share of deposits. along those lines, i have three questions. first, could you elaborate on what constitutes excessive growth and on what particular liabilities restrictions will be imposed there? in other words, what would excessive growth be? >> the only answer i can give there is like pornography. you know it when you see it. >> you might see it. but would the regulators see it? [laughter] >> well, the regulators won't see it unless you give them some instruction. let me give you a little bit of history at this point. i haven't been engaged in these discussions and neal ought to say something to the point. i have been been around for a while. and i proposed to this committee at one point and maybe it was in the house committee in the 1980s when ther