one potentially the chairman of citi, dick parsons, may be preparing to step aside. the other is tom at bank of america is reorganizing his investment banking leadership group. what should we make of those two stori stories? >> i don't think parsons' news is a surprise. i think some people thought this would happen. the question is who takes his place. and does citi have an independent chairman along with ceo. as far as monotag, i thought all three of those men are staying at the firm. one just got a promotion. >> david, let me turn to you. a note your highest among the banks you follow goldman sachs rather morgan stanley. let me get your reaction to how helpful it is that morgan stanley seems to be in the poll position in getting the lead of this ipo involving facebook. >> well, i think in terms of tangible financial note no deal makes that big of a difference. but potentially morgan stanley has been over the course of the last couple years it's had some issues with the market looking at their eu position. looking at the mortgage mess a couple years ago. and of course their bad resu