mr. langford's question. >> no, i don't think so. we pay 25 basis points, one-fourth of 1%. so if there's any attractive and opportunity out there, banks will prefer to do that and put money with us. secondly, the existence of those reserves is the counterpart to the purchases of securities that we're doing which in turn is lower the rates and making it easier for borrowers to get credit. so you can't look at one side and not look at the other side. so i think that's not cricket i think it does help credit extension spent okay. thank you. one last thing. over the last three years you indicate over 1 trillion in government spending. considering when government gets a dollar, we make 60 cents. i think the private sector record is for every dollar the private sector did they make one 20th or one 30th. casualties argue that taxing and borrowing and bigger government is not the most effective way to grow the economy? >> it is certainly true that taxation in particular has what's called a dead weight loss. so the loss to the private sector is greater than the taxes actually paid b

mr. langford's question. >> no, i don't think so. we pay 25 basis points, one-fourth of 1%. so if there's any attractive and opportunity out there, banks will prefer to do that and put money with us. secondly, the existence of those reserves is the counterpart to the purchases of securities that we're doing which in turn is lower the rates and making it easier for borrowers to get credit. so you can't look at one side and not look at the other side. so i think that's not cricket i think it does help credit extension spent okay. thank you. one last thing. over the last three years you indicate over 1 trillion in government spending. considering when government gets a dollar, we make 60 cents. i think the private sector record is for every dollar the private sector did they make one 20th or one 30th. casualties argue that taxing and borrowing and bigger government is not the most effective way to grow the economy? >> it is certainly true that taxation in particular has what's called a dead weight loss. so the loss to the private sector is greater than the taxes actually paid b

mr. langford. >> thank you for coming.i'm sure it's your favorite day of the week every time you get to come to the hill and spend time with us. thank you for doing that. in oklahoma where i represent, there's a large number of community banks i chatted with that are frustrated with the regulatory environment that's coming down. they feel like some of the largest banks in america made mistakes, and they are blamed for it. lending slowed down dramatically. personal perspective for you. where do you think the community banks stand as far as a need to circle around their capital requirements and change rules from discretionary now which is what the rule is now. how do we free up the flow of money in lend k in smaller community banks and rural communities? >> well, first, community banks have shown their worth in this lending crisis. as many larger banks withdrew from small communities or small business lending, a lot of community banks stepped up and began to make more loans, and that just shows the value of their personal co

mr. langford. >> thank you for coming. i'm sure it's your favorite day of the week every time you get to come to the hill and spend time with us. thank you for doing that. in oklahoma where i represent, there's a large number of community banks i chatted with that are frustrated with the regulatory environment that's coming down. they feel like some of the largest banks in america made mistakes, and they are blamed for it. lending slowed down dramatically. personal perspective for you. where do you think the community banks stand as far as a need to circle around their capital requirements and change rules from discretionary now which is what the rule is now. how do we free up the flow of money in lend k in smaller community banks and rural communities? >> well, first, community banks have shown their worth in this lending crisis. as many larger banks withdrew from small communities or small business lending, a lot of community banks stepped up and began to make more loans, and that just shows the value of their personal c