why did the federal reserve sabin brothers? who made that decision?hy was the decision made not to say lehman brothers and who made that decision? what were the respective roles of treasury? [laughter] the reserve bank of york -- of new york. why did the federal reserve say i g n two made that decision? [laughter] in my paper, i have tried to respond to [unintelligible] >> could you repeat that question? [laughter] [applause] >> i thought you bet he was some kind of plant, right? [laughter] governor bremer, the federal reserve and the treasury in consultation, we spoke to the president and congress whenever possible, attempted to avoid the systemic collapse of our financial markets, our financial system. we were extremely concerned that the collapse of these large firms in a disorderly way would have very adverse affect on the broader economy and the broader global economy. the evidence is baldwin brothers is that we were right, that the collapse of these firms is very destructive -- the evidence is, with lehman brothers, is that we were right, the co