This is not the first time I have been a regulator. And in regulation you really cannot do it on a confrontational basis; you need the active cooperation of the people you are regulating. You are not going to have a regulation where you constantly enforce; that is ineffective. Regulations, if they are struck properly in the first place and put into place, recognize the interests of the parties and strike an acceptable balance. There may be grudging acceptance, etc., but basically, these are the rules and you enforce them around the edges. That's what we have done in the past, and it worked very well. This particular crisis that we have is very much the exception to the rule; it has not been the case in the past, and I hope it won't be repeated.
On February 22nd, 2007. See this statement in context.