i would like saqib bhatti to talk about the main findings of your report, especially how much of thiso rico has is really illegitimate debt, a gouging by many of the wall street firms. >> juan, wewe have been doing a series of reports, looking at the legitimacy of puerto rico's debt. what we found is over the course of the various reports we put out, thus far we have identified $37 billion in debt we believe to be legitimate. in this report in particular, we look at part of this scoop and toss deals. that is basically when banks convince puerto rico to keep refinancing the same debt over and over again in order to avoid making payments. this is called scoop and tossed because your scooping up the debt due today and tossing it years and the future but banks did this because they got to charge exorbitant fees out of it. puerto rico scoop and toss still since 2000, banks left ubs charged $1.6 billion in issuance fees. to be6 billion comes known as part of puerto rico's debt. we think that is illegitimate will some similarly, there's another $1.6 billion that these scoop and toss deals we