joining me now, felix salmon, the financial blogger for thomson reuters, what did you think of the quote>> new york f.e.d. is owned by the banks. it's not surprising the new york f.e.d. might think that way, what's surprising the 50 attorney generals across the country seem to be caught into this new york f.e.d. brain mill. where did they get this idea? >> that's the thing about the settlement, and i hope people are tracking this because it's a complicated story, but it is a remarkable one, because you have this revelation of tremendous bad practices which seem to be plaguing the entire industry, the state attorney generals get serious and the banks get scared and come to the negotiating table and it looks like there's going to be some real hell to pay, now there seems to be wriggling out, how does this happen? >> we have what i like to think for a non-stoppable force and immovable object. you have the banks, who would love to put this whole thing behind them, and as you say, they'd love to wrote a check and say i have complete immunity, none of this will bug me again. if you look at the