unforecast bl. is there anything that we the fed or controller of the currency or other regulators could have done? the answer is nothing that i can, nothing i can see. unless we had the capability, as i hope you have in the immediate future, of making a major increase of cap -- capital requirements for commercial banks. >> going from the past to looking forward, can you give us your assessment of janet yellen as the next fed chairman, and what would it mean to have the first woman this that -- in that position? >> well, i assume the way you put the question that those are not two separate issues, it's the same person. >> are all in one. [laughter] >> i worked with janet yellen for several years. i remember she was on the federal reserve board when i was there, then she subsequently became president of the san francisco federal reserve bank. and while she wasn't at the board meeting, she was at the fmoc meetings, the federal market committee meetings. and she is an extraordinarily good economist. sh