eswar, let me begin with you. remind us, what does the international monetary fund do and what's the job of its director. >> the international monetary fund does two things. one, it lends money to countries in trouble. but more importantly in the new world economy what it does is it tells countries what they should be doing with their policies. it evaluates their financial systems and evaluates their policies, talks about whether those policies are good for the country but more importantly also for the global economy what is somewhat strangely called surveillance. that's a key function. managing that becomes very important because of course the technical staff of the fund are very qualified. they can evaluate policies and come up with good judgments but ultimately the managing director has to make very important policy decisions. so it can tell a big country like the u.s. or china what is wrong with its policies, you need somebody who can stand up to these big powers, tell them what they're not doing right and be