range of financial markets and financial institutions so that we have a big picture that we didn't havecrisis. i mentioned in discussion of vulnerabilities the many gaps in the financial system. there were important firms like aig for example, but others as well that really had no significant comprehensive oversight by anything regulatory agency. the dodd frank act provides a kind of fail safe in that the council can designate by vote. it can designate any institution which it views is not being adequately regulated to come th federal reserve. and that's a process that's going on now. so there complex, systemically critical firms that have no oversight. likewise the soc can designate utilities like a stock exchange or some other major exchange to other agencies. so those gaps are getting closed. we went have the situation that we had before the crisis. another set of problems had to do with too big to fail in dealing with firms systemically critical. the approach with too big to fail is two pronged. on the one hand, under dodd frank large complex systemically important financial institutions