they probably need approval of at hcfa. i think they can move in that direction. i like the subordinated bond approach. i think they should use more private mortgage insurance. the key fact is sending the message to f.h.p. at eighth that experimentation is good -- fhfa that experimentation is good. finding the right solution has value. move the dialogue away from eliminating the tse's tomorrow, because they were bad before our their pieces that we want to preserve of the gse's over time? i think it is doable. >> i propose one idea. there is no single monolithic solution. all of these markets are complex and the price risk differently. the subordinated bonds solution may be the best solution we may have to go back and executed to see what the cause of the credit is. the cd of markets are one avenue of exploratory thought. i do not have a particular singular solution. you have to prices, find out what the costs are and what the banks -- best execution is for the government's balance sheet. >> there are a portfolio of things we need to work on in the interim, given t