>> professor levitin can? >> i do. the current fsoc veto standards is a high threshold without doubt, but it's worth considering what the alternative is that's being proposed is. and also, the for the alternate been suggested i think, i can member which of the committee bank lobbies is proposing a further extension of is being proposed. the current threshold is undoubtedly high special to me and i think that's the right threshold, that we want to make sure there's, that we are not seeing regulations that cost systemic risk. but a threshold that says safety, fix safety and soundness is such a low threshold that pretty much every cfpb rulemaking will be subject to challenge. let me give you an example. in august 2008 a couple of the currency john dugan wrote a letter to the federal reserve objecting to certain proposed federal reserve regulations that would have restricted credit card rate jacking, a topic that i know was a particular concern to you. among the complaints that -- >> you can kind of -- >> among -- >> excus

levitin, professor levitin? >> i do. the current veto standard is a high threshold without doubt. but it's worth considering what the alternative that's being proposed is. and then also the further alternative being suggested. i think -- i can't remember which of the community banking lobbists is proposing it but there's a further extension of it that's being proposed. the current threshold is undoubtedly a high threshold to meet. i think that's actually the right threshold. you know, we want to make sure that we are not seeing regulation that cause systemic risk. but a threshold that simply says -- you know, effects safety and soundness is such a low threshold that pretty much every rule making will be subject to challenge. an example. in august 2008, the comptroller of the currency wrote a letter to the federal reserve objecting to certain proposed federal reserve regulation that would have restricted credit card rate jacking a topic that was a particular concern to you. among the complaints -- >> if could you kind of -- make it quick. a few extra seconds so he may complete his