served under senator paul sarbaines and professor goldschmidt was certainly involved. obviously steve harris also we've heard from this morning. so we have a number of folks with us this morning that are veterans of that effort and can give us perspective on that statute. the chairman served on the senate banking committee, i believe i'm right in saying from 1987 until 2005. previously, he had received his law degree from case western reserve and his undergraduate degree from princeton. he became vice chairman of the federal deposit insurance corporation in august of 2005. and then became acting chairman when chairman powell stepped down and more recently became acting chairman when chairman sheila baira stepped down last july. so he certainly is a person who has had broad experience in the legislative branch. obviously for the last several years has been deeply involved in the regulatory policy arena. the fdic has been at the center of efforts to contain the financial crisis. certainly very much at the center of legislative drafting efforts with the dodd-frank act. ce

i know steve harris was here again professor goldschmidt is here, all of whom have really played central roles in the formulation of the sarbanes-oxley certainly a man and its implementation as well. so is a pleasure for me to be here. he made reference to former fdic chairman sheila bair, who i think was an outstanding leader of the fdic. sheila told me two things before she left. that one, being chairman of the fdic is a tough job and i cannot vouch for that. the second thing -- and so she was right on that point. the second thing she told me with everything would be okay. before she left. that she wasn't quite as ray. [laughter] and some other things as well. but if nothing else, it has been an interesting and challenging experience and i think the role of the fdic during the course of this financial crisis burley has been a very important one and i think if i may say history will look back upon the performance of the fdic over the past three or four years then i think the performance will hold up pretty well. two things that i really wanted to talk with you about this afternoon. i wa

professor goldschmidt is here, all who played central roles in the formulation of the sarbanes-oxley certainly and then, and in its implementation as well. so it's a pleasure for me to be here. you made reference to former fdic chairman sheila bair, who i think was really an outstanding leader of the fddic. sheila told me two things before she left. she said one, being chairman of the fdic is very tough job and i can now vouch for that. and the second, so she was right on that. the second thing she told me was, everything will be okay before she left. that she wasn't quite as right. [laughter] >> tell you europe? >> and some other things as well. but, if nothing else, it's been an interesting, it's been an interesting and challenging experience. and i think the role of the fdic during the course of this financial crisis, really has been a very important one and i think, if i may say, i think history will look back upon the performance of the fdic over this past three or four years and i think the performance will hold up pretty well. two things i really wanted to talk with you about