mr. sphinx, is it your belief that private capital stands ready to take -- get into the market space when the government vacates? >> yes -- [inaudible] >> could you pull your microphone a little closer or turn it on? >> yes, we do. we believe we have the capacity to fulfill the space that would be left by the fha. there's plenty of capital in the industry today, and we also know that there's a lot of discussion about new entrance coming into the industry, and there's greater certainty around the resolution of qrm and the resolution of the future of the gses, then we'll most definitely see capital come back and therefore we'll have capacity. >> thank you. are there private sector alternatives to the fha insurance for home buyers? particularly at the higher end of the market. do we have the alternatives now? or are there alternatives that should be? >> yeah, we have not really done the work to take a look at what that part of the market looks like, so i really can't answer that question. i'd be glad to look into it though for you. >> okay. thank you. then ms. rosen. fannie and freddie, you