defense fenriz defense in this case as in other cases is absolute immunity absolute immunity which is the same privilege that the f.c.c. and other get government agencies receive i maintain though that absolute immunity without total transparency is nothing more than a license to steal that actually leaves well into my next question now you paint a picture of wall street as wall street relying heavily very heavily on self regulation can you explain this type of self-regulating feature to our viewers. i mean first off i think the overwhelming percentage of people in our nation and elsewhere do not appreciate that wall street is to a very large extent a self regulated industry and the conflicts of interest that go along with that i mean to think that goldman sachs j.p. morgan every other not only major bank but also medium sized and smaller broker dealer can fund a regulator so that that regulator that being federal will in turn aggressively regulate the industry is is a stretch and in looking at the evidence you know the amount of fines that imposes