talking to tom hoenig about this. her that he has seen in what, 20 something years, tom. >> that i've been coming here. >> we'll try to stay dry as we talk in particular about bank regulation. as you mentions tom hoenig is vice chairman of the fdic which is very busy on dodd-frank implementation and post-financial crisis work. and it has been busy today. it was part of this $17 billion settlement with bank of america over flawed mortgage-backed securities, about a billion dollars of that money will go to the fdic and so, tom, i wanted to ask you, get your comment on this. is it a fair settlement? is there more work to do? what is your take on it? >> i'm not at liberty to talk about individual institutions and so i won't but, issue is more broad than that because there have been several penalties been assessed and forth. i guess i would make three points. number one is, in the institutions that were acquired, those institutions did cause harm. there was damage done and therefore there is a certain degree of accountabili