the dialogue with regulators shifted towards resolution recovery planning led by the efforts of paul tuckernor, bank of england, all moving in the right direction but clearly still a lot of work to do. >> and final question here, when you look at just what went on with j.p. morgan, we are trying to figure out what the total number is in terms of the losses. do you believe that that is going to be sort of one more reason that we will see volcker rule get implemented? >> it is a good question. it is not obvious that volcker would or would not be the right remedy. i think that the -- what's happened is the suddenly the regulatory agenda has been repoliticized again, if you will. hopefully we can move beyond that and get to the substantive issues. of, you know, coming up with a proper regime for dealing with large banks, for understanding the impact on, you know, central clearing and some of these other things. without feeling the need to kind of, you know, go back to the drawing board and come up with new rules to deal with this specific situation that's just happened. >> jerry, good to have y