You don't think there is any moral obligation here? Put aside the legal obligation.
I am just calling it in an inhuman context.
That seems to me to be misleading, as well.
business has taken proactive steps to position the firm strategically in the ensuing mortgage credit and liquidity crisi...
You did not disclose to ACA that Paulson was on the short side of this deal. Is that correct?
Do they have a belief that you, at least when you are going out peddling securities, that you want that security to succ...
I think in those transactions in which we underwrote, I believe, and I am not looking at specific--in fact, my understan...
As we put it in the vernacular, the big short allowed you to have a year in the black, is that----
You had a changing view of the market.
Did your group have a pretty good year for 2007?
And that party with the reverse inquiry is somebody who wants to sell short. Is that correct?
The short positions that they were taking during that year were the major contribution to that, is that correct?
Is that accurate? Did that reflect the facts at the time?
Well, if it weren't for the big short, you would have been deeply in the red that year, wouldn't you?
You made billions of dollars going short, not net.
No, I agree totally with that.
And that group made, as I understand it, $3.7 billion on the short side, basically, right?
Well, we will let the record speak to that.
