So when he said in his email that you said that the current losses are 1.6, what you are saying is you told him that the 1.6 was current in the second-quarter-to-date.
How do you possibly justify changing your process of making marks in order to make your losses go away or be less?
I think this is separate from the reserve. I think the losses as reported here on this chart were $719 million.
Were you aware of the fact that it had not been reviewed every year?
Not to my knowledge about OCC.
Is it not true that when a derivatives portfolio gets to be that big that there is a special danger?
Now, rather than identifying risks to be offset, are you also going to identify the assets to be offset?
So much for accuracy.
You think that is a balanced--honestly, now, you think that is a balanced presentation to investors?
You think that the average listener to that statement would think that what you were referring to was some strategy that was adopted, I do n...
Was it a coincidence that it was done at that time?