first is kevin warbacmh associate professor the legal studies and business ethics at university of pennsylvania of are worth ton school. hal singer, progressive policy institute and principal with economists incorporated. professor jer fahlaber, professor emeritus business ethics an public poll i wharton business school and chief economist of fcc. anna maria coke evacuations. georgetown, policy center and. -- cove evacuations. kovacs. start with a quick question for all of you. john just explained that interconnection with refers to the back end of internet. currently it is regulated it is by thousand thousands of these private and confidential agreements between network operators, most of which are so far, at least we understand are done even on a handshake basis. not a lot of them are even written down. i will ask each of you very quickly to give me your top line here. what role, if any do you think the fcc should be playing in regulating those agreements? i will start with kevin and go down the line. >> sure. i think he started us off exactly in the right place which interconnection is essen