this issue is too important for us to guesstimate. . all members of congress want to solve the problem but i have failed to see how this agency will correct the actions that led up to what you had talked about that built up to this. the one question i would have for you, i think you had made some statements that if they cfpb have existed from 2004- 2008, this could have been averted. i heard the testimony earlier in the first panel as well. my question would be -- even though this entity is supposedly going to have some responsibilities of other entities that should have prevented this or should have maybe suggested this was going to occur and we could have put some stopgap measures into place, can you tell me what exactly this agency will do in the next 12 months? to ensure this would not happen again? >> congress already took care a lot of the first step. the dodd-frank act undertook a major reform including a requirement that for non- qualified mortgages that lenders will have to verify the ability to repay. that seems like an obvious