Ed Perlmutter actually said...

As I am looking at the recommendations of the Task Force, those--everybody calls them indirect investors--are sort of out of luck.

It is important that we do not competitively disadvantage or penalize U.S. financial institutions just because the United States is further ...

I haven't heard anything about investor protection. And there was a reason for Sarbanes-Oxley... about investor protection.

Just as simple as that. Secured creditors. I am just trying to figure out what happened in that week advance.