Patrick Toomey actually said...

I find it ironic that, in an interest of presumably reducing risk, we adopt a Volcker Rule that, for instance, forbids banks from engaging i...

It is important that we understand that, but it is also important to remember that is historical.

I think there is a very significant likelihood that it arises mostly from Title II of Dodd-Frank.

I am wondering if actually each of you could just comment briefly, maybe we will start with Dr. Meltzer and work back.