i'll get you in a minute. >> from today's hearing, we're joined again by sarah lynch of reuters. explain what that was all about. >> the credit rating agencies have been under great scrutiny since the financial crisis for giving rosy ratings to toxic subprime mortgage bonds. now this issue of hem not doing a good job is coming up again at mf global. in may of 2011, mn global had disclosed that it had this $6.3 billion exposure to european sovereign debt in a 10 k filing with the sec. and despite that being out there in the public be fear, neither of the ratings agencies took any action until october that moodies had downgraded them to near junk status the 24th of october and downgraded them again to junk not till october 27th and s&p didn't downgrade them till the actual day of the bankruptcy. so it raises a lot of questions about what they're doing, why they didn't see red flags and could this have been spotted sooner. >> and so from your standpoint as somebody covering this story, where does it go next? >> well,ern the chairman of the subcommittee of investigations and oversigh