they don't undeestand why you do such a thing. >> congressman, what do you say about the american people listening? what do you think they want to hear by the time election comes around. what do you want to be able to say to them that you and congress have done in terms of regulation? >> don't let the big companies get in trouble to the extent that they bring the economy down like you saw with leyman others. there's a way to do that. they have to have a certain level of capital. they can't overleverage. it was a mistake to go from 12 to 1 to 30-1. it was an awful mistake. about -- we had regulators on the scene with lehman that didn't stop some of this. just like with the bip oil spills, we had an agency that was supposed to take care of that. we had an agency that said there are things you need to do that you are not doing, but they sort f suggested it. they didn't require it. we had a lack of effective oversight. i think the american people, before we create more bureaucracy up here, they want to know that the one is here, the securities exchange commission and others are doing their j