in addition, mr. gramm proposes to implement a program to complement the current city walking towards which are every wednesday and saturday. as soon as i was assigned this project, i took it and learned a lot about the murals and had a whole new sense of appreciation for them. if you can, get out there and take a tour. in addition, he will install signed an rules in place to preserve them. i wanted to give you a proposal summary. all terms and all items propose are just a proposal. that will still have to go into negotiations to iron out the details. consistent with the tower principles and goals document, mr. grim proposes to sell high- quality items. he will install department- approved custom shelving to better utilize the space and enhance the visitor experience. and he will work with his wife to custom build a department- approved food and beverage cart. the oyster bar will provide the food and beverages on a daily basis. they planned offer a variety of fresh food and many of their ingredients are pur

your letter to mrs. gramm reminded of a story by w. c. fields sitting with a drink in his hand. the secretary interrupted him repeatedly to tell him a strange man wanted to see him and refused to say what you want to see about. fields told his secretary to give the man and equivocal answer. tell him to go fuck himself. it is all like that. you get that flavor of ben but another of my favorite letters i can across very early, appeared on the panel and the editor, publisher watch this panel and he said how ironic it was to watch you display your arrogance as you criticize media credibility study that revealed the public accuse the press of being arrogant and after another paragraph signed a letter cordially and sincerely and said this is ben's response. editors do run the risk of appearing arrogant if they choose to disagree with anybody who calls the american. you sound like one of those publishers to into give his community what they want. no one will call you arrogant that way. no one will call you newspaperman either. i am so happy. this opens up all kinds of possibilities. th

. >> mr. gramm, for five minutes. >> thank you, chairman. good afternoon, mr. dimon. just to continue -- we are hearing a lot about this volcker rule. we heard before from ms. waters that, if all of dodd-frank was implemented, it is possible these trades would not have occurred. would be safe to say that, if you did not do any trading at all, you would not have any losses? is that true? >> yes. >> so if we made banks a utility and could not compete with europe, that would clear this up. would that be one way to get rid of losses and take risk out? >> yes. >> before, we were talking about regulators. my colleague mr. duffy was saying, do you think regulators can regulate jpmorgan? he said yes his argument was, why could not find this trade? in my humble opinion, regulators are there to look over all at the major roles such as minimum capital requirements, maximum leverage ratios, maybe some concentration risks, rules and place so that you are not too concentrated. those three things combined, regardless of whether you have a bad trading day -- is it safe to say we can

as mr. gramm has plenty of its an incremental thing. there's all these attacks sometimes we have a shower or hurricane. but i'm concerned about is a stage actor or cause i see the actor could bring a significant part of the economy down on the financial service sector down and the cause great have a at any time but especially when we are trying to build up a recovery and in anticipating that are we meeting that challenge? islamic they recognize most of the institutions in the banking finance sector were elements of the change represented a potential weakness and one of the major tenants there was to be able to share incident information and threat of vulnerability information but all of those numbers so they can better protect themselves. that is one of the basic tenets that we have in those institutions. >> a couple of points real quickly. one thing i think would move us towards the situation he would like to see in the terms of preparedness is more cooperation from the computer manufacturers and software vendors and producing products