That really is a key question, and thank you very much for asking it.
I think that the Canadian regulatory system is certainly one advantage that we have over the Americans. In this regard, I think that you did have Ms. Dickson appear before you. However, as I say quite often, our banking system is structured quite differently in comparison to the American system. We have five or six major, Canada-wide institutions that have a number of diversified activities within their business plans. So that can help balance events in their markets to some extent.
You have seen that in the United States, some institutions were focused only on investment. Obviously, the repercussions of that investment focus were very unfortunate.
From a structural point of view, we have a system that puts us at an advantage, as well as a clear, compact regulatory regime. Stakeholders know each other very well, and are very familiar with the rules of the game. I was in Washington about one week ago, and I must say that from a regulatory point of view, their situation is so confusing that it is very difficult to even determine who does what, whereas here in Canada, it is very clear.
Furthermore, as you said yourself, the mortgage market is an advantage for us.
I see that the chairman wants to cut me off because I can talk about the proper management of banks for a long time. So I will stop at this point.