mr. ramsay. the gentleman from massachusetts embedded in a question assumed ratings are not in perspective of asset backed bonds but they're still in the prospect of the fcc still requiring that. aren't they, mr ramsay? >> our rules currently as grandstand it requires ratings and prospectorss but that is a topic we also have for public discussion. >> the status of that, is there a pending proposed rule out there? >> these are yes or no questions. >> yes. >> it is a proposed rule or in draft form? >> there's a proposed rule. >> it would remove the ratings? i have not seen the proposed rule. i heard there's a discussion draft but have not seen a proposed rule. >> the commission put out a proposed rule at least for shelf registration aps requirement. >> next question goes to how these things happen. is the credit rating agency involved in preparing a prospectus, reviewing a prospect is or is the credit rating agency just inserted by attorneys and accountants in the prospectus? >> you're getting out