. >> i'm willing to amend my motion to incorporate the comments stated by commissioner meiberger and stansbury. >> you are also open to- >> to incorporate the minutes in the last meeting made by mr. stansbury regarding investment structure. >> bring back a new draft next month? >> yes >> let's do this work. this was a discussion item, men a points were made, short of putting a transscript, minutes are design today be a summary. i think staff was picking up all the questions that were raised by the board and developed [inaudible] these are a summary and representative about the discussion. i don't think point left out were meant to be a slight. >> let's give clear direction to reduce into a couple pages takes work. you see what mr. shah did, if that is the standard we want then we should tell them that. i think it is more than is required. >> let's take a moment and pivot back to staff and look for a legal opinion. i'm of the mindset we are looking to summarize the just of a meeting and this is not a transscript. none of us including the clerk is certified to take down transscripts ve

thank you. >> commissioner meiberger. >> thank you very much.n the-let me go through staffs recommendation in order is probably the best way to do that. on page 4 of 8, we talk about aberdeen asset management, item number tworks you say the assets managed by the income team in philadelphia have decline over time due to significant team turn over. were they put on a watch list for that significant team turn over? >> aberdeen has been on review multiple times for team turn over, further in the paragraph when [inaudible] announced the intention to retire. i would have to look at the detailed under review memoes from 2007 forward to give more information at this time whether they have been under review. what i can say is that of the entire aberdeen, this is aberdeen opposed to the rdo puffers product, every [inaudible] on the team, when we retained them is now longer with the firm. >> i'm very much concerned whether or not this manager has been on the watch list. stone harbor on page 5, on your point number 6, you say this more aggressive orientatio

thank you. >> commissioner meiberger. >> thank you very much. a few questions on the-let me go through staffs recommendation in order is probably the best way to do that. on page 4 of 8, we talk about aberdeen asset management, item number tworks you say the assets managed by the income team in philadelphia have decline over time due to significant team turn over. were they put on a watch list for that significant team turn over? >> aberdeen has been on review multiple times for team turn over, further in the paragraph when [inaudible] announced the intention to retire. i would have to look at the detailed under review memoes from 2007 forward to give more information at this time whether they have been under review. what i can say is that of the entire aberdeen, this is aberdeen opposed to the rdo puffers product, every [inaudible] on the team, when we retained them is now longer with the firm. >> i'm very much concerned whether or not this manager has been on the watch list. stone harbor on page 5, on your point number 6, you say this more agg

. >> commissioner meiberger. >> thank you very much. a few questions on the-let me go through staffs recommendation in order is probably the best way to do that. on page 4 of 8, we talk about aberdeen asset management, item number tworks you say the assets managed by the income team in philadelphia have decline over time due to significant team turn over. were they put on a watch list for that significant team turn over? >> aberdeen has been on review multiple times for team turn over, further in the paragraph when [inaudible] announced the intention to retire. i would have to look at the detailed under review memoes from 2007 forward to give more information at this time whether they have been under review. what i can say is that of the entire aberdeen, this is aberdeen opposed to the rdo puffers product, every [inaudible] on the team, when we retained them is now longer with the firm. >> i'm very much concerned whether or not this manager has been on the watch list. stone harbor on page 5, on your point number 6, you say this more agg

commissioner meiberger is out of the country. commissioner paskin jordan.tem 3 general public comment. >> thank you. speak into the m ic. sorry i couldn't help myself, you always say it, i had to say it to you. >> [inaudible] >> good afternoon commissioners. i'm patrick [inaudible]. executive director hish to hand a verbatim transscript of last months meeting. [inaudible] i testified july 8, [inaudible] should table the [inaudible] investment. mrs. [inaudible] noted the proposal doesn't meet guidelines. commissioner driscoll asked whether it involves a prohibited [inaudible] commissioner stansbury asked [inaudible] regarding ers investment staff and whether they have experience with asset back liability securitization. loan obligations and a finding credit ratings to individual securities noting they go hand in hend hand with a potential [inaudible] investment. mr. cocoresponded that no ers staff has such experience and contracts with external managers for this expertise. there is no bench mark and no liquid secondary market. has a external manager and fidu