there was actually a dsc by the '80s, '90s and 2000s. the goals shaping the trade off of how they should handle issues tilted in a way away from industrial protection. >> if i could add to what you said, i will pull the plug for history to combat the generat n generational amnesia. in the 1990s under the clinton administration we had the glass siegel act and when that was lifted, i am willing to bet many americans don't know what that act was, including even some bankers for all i know. i can remember talking to three or four colleagues that day and we all no one knows what this law is but it is a really bad idea. i was probably wrong about every prediction i made but that day three or four of us said nothing good will come from this. there is no reason to lift it. the depression is long gone, we can never have any other depression. of course, it can't happen. that sort of thing. you know, housing prices never go down. >> that is a really nice example. the fed predicated models in the mortgage market on the presumption that was the case.