in terms of your knowing about when they happened and about you being uninformed about them and underinformed and you are exempted from these kinds of derivative information. not any. >> regulation of derivatives. >> the transparency is part of the thing they should be exempted from. no legal requirement of transparency other than that. >> let me ask you, because we have a time issue. you said -- because you have a fortress balance sheet these are not a threat, but what about institutions whose balance sheets are less impregnable, if we don't suggest from j.p. morgan chase, is there a danger that this kind of activity in a financial institution with less of a strong balance sheet might cause some problems? i don't know. you should take comfort in the fact that all american banks are capitalized and the system is far stronger today. >> i appreciate that, we can't assume that will be that way forever and there are some who are resisting the capitalization. so if you were not as well capitalized would this have had problems in it that we didn't have because of your balance sheet? you said you ha

there were problems with this in terms of knowing about when it happened and in terms of being underinformed and you are in favor of -- >> not any. >> the transparency is part of the thing that would be exempted from. and we have a time issue. you said -- because you have a fortress balance sheet, these are not a threat. what about institutions whose balance sheets are less impression national, a chain link or two. if we don't just legislate for j.p. morgan chase, is there a danger that the financial institution with less of a strong balance sheet might cause some problems? >> i don't know, but i think you should all take comfort in the fact that all banks are better capitalized. the system is far stronger today. that was know the question i asked and we can't assume that will be the case forever and there are some resisting the capitalization. would that have had problems in it that we didn't have because of the balance sheet? >> that assumes that there's something special about the way you are, but we can't assume that will be the case for every financial institution. >> we also said there

. >> it was a shock only to the poor underinformed souls that the supreme court found the constitutional justification relies exclusively in congress' ability to tax. the justices didn't use that politically poisoned word tax.p >> the supreme court also upheld the principle that people who can afford health insurance should take the responsibility to buy health insurance. this is important for two reasons. first, when uninsured people who can afford coverage get sick and show up the at the emergency room for care, the rest of us end up paying for their care inç the form of higher premiums. and second, if you ask insurance companies to cover people with pre-existing conditions but don't require people who can afford it to buy their own insurance, some folks might wait until they're sick to buy the care they're need, which would also drive up everybody else's premiums. >> during the supreme court hear on the case, the most vocal and emotional opponent of the individual mandate was sure, he was just sure that his broccoli example would carry the day. >> could you define the market? everybo

there were problems with this in terms of knowing about when it happened and in terms of being underinformed and you are in favor of -- >> not any. >> the transparency is part of the thing that would be exempted from. and we have a time issue. you said -- because you have a fortress balance sheet, these are not a threat. what about institutions whose balance sheets are less impression national, a chain link or two. if we don't just legislate for j.p. morgan chase, is there a danger that the financial institution with less of a strong balance sheet might cause some problems? >> i don't know, but i think you should all take comfort in the fact that all banks are better capitalized. the system is far stronger today. that was know the question i asked and we can't assume that will be the case forever and there are some resisting the capitalization. would that have had problems in it that we didn't have because of the balance sheet? >> that assumes that there's something special about the way you are, but we can't assume that will be the case for every financial institution. >> we also said there

there were problems with this in terms of knowing about when it happened and in terms of being underinformed and you are in favor of -- >> not any. >> the transparency is part of the thing that would be exempted from. and we have a time issue. you said -- because you have a fortress balance sheet, these are not a threat. what about institutions whose balance sheets are less impression national, a chain link or two. if we don't just legislate for j.p. morgan chase, is there a danger that the financial institution with less of a strong balance sheet might cause some problems? >> i don't know, but i think you should all take comfort in the fact that all banks are better capitalized. the system is far stronger today. that was know the question i asked and we can't assume that will be the case forever and there are some resisting the capitalization. would that have had problems in it that we didn't have because of the balance sheet? >> that assumes that there's something special about the way you are, but we can't assume that will be the case for every financial institution. >> we also said there

there were problems with this in terms of knowing about when it happened and in terms of being underinformed and you are in favor of -- >> not any. >> the transparency is part of the thing that would be exempted from. and we have a time issue. you said -- because you have a fortress balance sheet, these are not a threat. what about institutions whose balance sheets are less impression national, a chain link or two. if we don't just legislate for j.p. morgan chase, is there a danger that the financial institution with less of a strong balance sheet might cause some problems? >> i don't know, but i think you should all take comfort in the fact that all banks are better capitalized. the system is far stronger today. that was know the question i asked and we can't assume that will be the case forever and there are some resisting the capitalization. would that have had problems in it that we didn't have because of the balance sheet? >> that assumes that there's something special about the way you are, but we can't assume that will be the case for every financial institution. >> we also said there