in my opinion, we need to strengthen the link and the coordination between prudential supervision andsumer protection rather than severing it. the scope of this issue also is broad. and it could be one of those circumstances in which as senator gregg indicated the unintended consequence if we get this wrong could be that we will actually cause a restriction of acts is to credit to consumers across this country at the very time they need to have a better ability to access that credit in ways that are safe and sound. i do, also agree that we want to make sure that we protect our dual banking system and i'm concerned about some of the provisions that senator shelby has raised with regard to the question of whether our dual banking system will be preserved adequately in the legislation. mr. chairman, i've got a number of others here, derivative, we haven't had a lot of talk about derivatives here today, but that's obviously one of the key issues we need to deal with. i'm concerned that by creating this new regulatory structure that we see, we will have unclear effects that create burdenso

basic risk is that the rules will be -- >> i was talking more about reinforcing the role in the prudential, at least in the regulated areas, in the regulators that exist. i don't think we have had somebody who has been approved by the senate in that position. know, somebody that has been approved by the senate in those positions. i think there are ways we can get at this without weakening the safety and soundness provisions and i hope we will get there. it sounds like there is not a lot happening in the other countries, in the three most important areas. let me just ask you this. other than the european union is there, latin america and other places, is there much thought being given by policymakers to overall financial reform and trying to, quote, harmonize with some of the of the things we are going to here? >> i think there is a lot of thought and support on the design of the capital court as well. but the irony of this crisis is because so many emerging-market had such a traumatic wrenching financial crisis and 90's they actually put in place a sensible reforms that made their systems