Thank you, Mr. Chair.
I have a couple of questions. First, the OFSI mandate, if you look at the second point, is to “[p]romptly advise institutions and plans in the event there are material deficiencies and take, or require management, boards or plan administrators to take, necessary corrective measures expeditiously”.
How long did it take, from the day you realized that there were issues in terms of asset-backed paper to the day you actually recommended to banks...or at least recommended changes?