Thank you, Mr. Chairman.
Thank you, Mr. French, for coming out.
I have just one comment on principle. In terms of regulations and regulatory legislation, would you make a comment to me on where you stand in terms of regulations? Do you support that regulations need to be put in place for pretty much most things? Or do we wait to determine through a process that we have regulations, knowing that there are areas out here in which there likely aren't going to be problems, and then regulate those if there is a problem? Or do we just lay out the regulations right off the bat?