. >> rose: erybody now knows at this was a globalroblem. and that weneed in e future global coordination. yes? >> uh-huh. >> rose:ow does that manifest itself? there isn organizati, financial service ich is was named financialervices board where the g-20 some time ago presumly to give them a little more cloud or somethg. but this is an arrangement among bank supervisors, whether centl banks or somebody else, that is designedto come to conclusion onomeasic matrs of banking servision and regulaon. beginning with capital. when i w chairman of the federal reserve boar we really started it then. and wead the first capital quirements between europe banks, american banks and japanese banks. and it s by today's standar considered pretty crude but had the advantage of making them more uniform than they would have othwise been. >> rose: that's what hpened in part, wh will happen if you don't have some kind of coordination, then it's all going to flow to wherever the lowest level is? >> and this ise will arise and the kind of outline i have for the co