u. k australia, japan, germany and elsewhere. united states was able to join in that effort because of the t.a.r.m. money. we averted at that point a global melt down which in my opinion very likely would have created a depression-like environment in the united states far more severe than the recession we have seen recently. >> thank you very much, mr. chairman, and i gave you your shot and now i'm going to come back at you. okay? >> sure. >> the thing we must decide is what we're going to do in the future and how we will handle it and one of the things in the last several months that i've been involved in investigations of everything from the madoff case to other tran sack shongs in the market. but studying the inside of our r our regulatory authorities i find that out they may have the authority, they may have the money to act, they sometimes don't know how to act or don't act properly and as a result they have all the authority in the world to prevent something that happened but it happens anyway. i want to say that charge wou