Thank you, Mr. Chair.
Mr. Lee, I have a couple of questions for you. To begin with, you talked about the NINJA mortgages. I did a bunch of looking into that and, without going too far with this, what really bothered me with the NINJA mortgage wasn't just that they existed in the first place; it's how they mutated and came out the other side as prime paper, so we had the mutant NINJA mortgages.
Somebody is ultimately responsible for that, are they not? Isn't this a failure of the bond rating services and so forth that actually looked into this? It's not just that there wasn't regulation; it's that there wasn't regulation and that the groups that would actually evaluate this totally missed it, didn't they?