if you're hedging -- if you're, quote, unquote, hedging some macrorisk that is not related as the statute requires it to be to individual or aggregated positions and the risks that come from those, then it is not permissible, our read under the statute. but then our regulators will have to work through exactly the technical issues of what that means. put out a proposed rule. 18,000 or so comments came in. they're working through that right now. the question is not really whether it's portfolio hedging or not. the statute doesn't talk about portfolio hedging. it talks about whether it's associated with individual or aggregated positions that the firm has actually taken and put on their books. >> as you would, if you would go through, political response to what has just happened in this political season, we could end up making regulations on hedging that make some of the highly complex organizations, if we're going to keep them like they are, even more risky. is that correct? >> well, you know, i think the whole goal here is to allow hedging that relates to risks that are associated with po