Kent Conrad actually said...

I would just respond to the gentleman that I have seen a bigger budget gimmick, and that is fighting the war in Iraq without putting a nicke...

I believe it is a combination of a very loose monetary policy, a very loose fiscal policy, a very loose trade policy, all coupled with dereg...

I think derivatives, while probably the vast majority of it is completely legitimate, the part that was not was the assessment of risk.

All of us who participated in supporting that bear responsibility.