dr. witt? >> chairman angelides, vice chairman thomas, members of the commission, my name is gary witt. for the last two years, i have been teaching full time at temple university in philadelphia. and no longer have any affiliation with moody's. i am pleased to be able to participate in today's discussion the options i express are mine alone, the opinions express are mine alone. theinancial stabili act that recently passed both houses of congress expands the powers of e sec. the sec will determine over th coming months and years how best to use these new powers to foster more accurate credit ratings. i hope they find our deliberations useful. i waan analyst and then managing director in the u.s. derivatives group in moody's from septeer 2000 to september 2005 when i was reassigned within moody's away from cdos. i wa one of three team managing directors in is cdo group fro march '04 to september '05. i was responsible for e following eas. cash flow, abs, market value cdos, collateralized fund ob