Right. Now you say in your written testimony, I've gone through your written testimony, you talk about not having the regulatory tools that you needed during this time period, is that right?

So let me just get started here, I want to walk through this. I'm hearing you say that it is very likely that the American taxpayer will be repaid in full from AIG?

So the reason we asked this panel to come is that we wanted to probe that claim.

what is the value of the guarantee that the American taxpayer put into this?

So I just want to ask you. Now is this only for the financial--for the thrift, not for the larger----

So government help--you had to evaluate it, evaluate what its impact was going to be.

That's why I asked a time question.

I'm not sure I'm comfortable with, as a citizen, with the Federal Reserve using that power to pick and choose winners.

you treat the guarantee from the American taxpayers as if it costs nothing.

I just want to make sure I'm following the timeline here.

Do you believe banks will want to participate in this? It's going to be a different kind of program.