very pedestrian, nothing nusual about this conflict occurs, probably in every industry. very standard. >> certainlye are finding it ocrring in the financial services industry. mr. witt, in your view where the credit, was the credit, the quality of the credt ratings undermined in any respect by the search for market coverage in market shae? >> i don't know of any cases where there is really a bright line that anybody crossed it that i knew of where it was reallyobvious, that summary was, you know, changing standards or invnting standards, you know, to get a deal or toet market share. >> was there a gradual erosion? >> i wouldn't -- if somebody said tt, i wuldn't doubt their veracity. i wouldn't say that myself. mr. kolchinsky let me ask you, you testified in your written testimony, but not in your oral testimony. you talk about your ratings of cdos, collateralized debt obligations, when they began to contain credit efault swaps as at least a portion of th underlying asset. >> yes. >> and as i underand ,-comit, the credit default swaps ai to replace some of the residential