chelatione the -- a mulation, and using the relation across the board, what is the emphasis on regulation? do you see as being able to move past into a new -- what do you project? mean, therevy: i are two ways to think about change. change at the margin, and i think the new regulations including dodd frank, which i did not talk about, that cap's -- set caps on leverage and the kind of equity the banks need to stay in business. and those changes are significant and they matter. i think the continuity that matters the most is the global configuration of the political economy. a situation in which capital flows into the u.s., the financing of the trade deficit, and the rest of the world developed through manufacturing booms or commodity booms, selling things to the u.s.. and until, which is a global problem, no national government has the capacity to really address. and until that sticks, i do not know, i would really argue that what we used in this class, the 1970's opening up the present moment, i think that will continue to be the case. ok. we will stop there. thank you all very much. [ap