mr. zywicki and mr. pincus on a couple of quick items. first, mr. zywicki, look, i understand the notion of appropriate consumer protection. i think most of us do. i think all of us probably agree that there is either redundancies' or even in some circumstances additional burdens and some regulatory requirements. i think some of us would even agree with this philosophy or notion of the cfpb. i of great concerns about the structure, great concerns about the ultimate power that can be provided to this one individual and to the individuals within this organization. i have a serious concern about the funding of the agency and the lack of the ability for this agency to be called in front of congress and i think those are concerns of anybody in congress should have because ultimately people in this country are going to rely on congress to make sure that the right things are being done. so my question to you would be in two parts. can you talk about how this agency is structured it some of the problems we should consider or see in the future, and second, wh

mr. zywicki all line? mr. evans cushman >> yes. >> yes. >> yes. >> the redhead. >> what we see is the ftc for the deliver to process comes away with doing this. there is an internal check of competition, consumer choice on one side of the agency, consumer protection on the other side of the agency. when i think about this, in the ftc, no one ever said that the ftc is in confident because they have an agency -- i never saw horse trading with respect to these things. i saw it delivered a process that has internal checks and balances weighed all the considerations. i think that i was at the ftc, a lot of people that were there, and that if people had said that consumers would be better off if we took the consumer protection bureau of the ftc and spun it off and added to what everyone to come any regulations, without any consideration about other sort of thing, people would think that you have lost your mind. but that is the model, that is the model for the consumer financial protection bureau, that would be a dis

mr. zywicki or esters levitin or to me or to mr. pincus, the chances are each one of us is different risk characteristics and the bank has to figure out a way to price that. the card act in that particular legislation made the difficult to do and one of the consequences of that is banks had to basically increase their prices and reduced the availability of credit. the other examples but i've written on recently of course, and we don't know how this is going to play out is the durbin amendment and the debit card change fees. based on what if i think it is pretty clear from how the market is already operating that that is going to have a very affect on the marketplace. it is going to increase the price that consumers had. i simply don't think that it's possible that this regulatory agency is going to result in lower prices for consumers. i just don't think there's a lot of experience and history that is comported with that particular view. >> the fsoc, the devotee of the fsoc to overrule the rules of the cfpb. ms. warren says that is