Joseph Morelle actually said...

I have a lot of sympathy for that, but I suspect that maybe a lot of what you want to accomplish can be accomplished by simply having CDSs c...

What worries me that everybody is going to have these position limits, on-exchange off-exchanges, that means that market makers... could be ...

You contrast that with the financial services arm of AIG, unregulated, and by virtue of the Commodity Futures Modernization Act unregulated ...

I would point out that, as it relates to state regulation of insurance companies, that we have reserving requirements and insolvency tests.