as you know, wheev hundreds of meetings with industry and a lot of issues to work through. i think chairman bernanke said last week it would be very unlikely and impossible for us to get this done by the statute other deadline of july, and i think our goal would be to take the time to get it right, not get it fast. >> great. and now, separate question, dodd-frank requires the sec and the cftc, right, to issue joint rules defining swap entities and products, and are the agencies working together to make sure that the definitions are consistent? >> yes, we are. and one reason it's taking so long is that it is -- it is a challenge. we have different -- we have one bod frank act but we have different statute other regimes upon each of us are building and frankly distinctions between the security based swap market for which we have responsibility and the swap market for consider the ftc has responsibility. so it's created a lot of challenges in the joint rulemaking, but we are working together to try to make those deskses as consistent as we possibly can. i don't want to tell yo