That's only because they're recapitalizing because of this extraordinary financial crisis. The losses are going to continue to rise. I was in the bank in the 1980-81 recession when Volcker was the chair of the Federal Reserve Bank, when people were losing their houses because they had a 10% mortgage and they were rolling up on the renewal at 18% and 19%. That's why I went back to university. I've said this to my students. I got tired of throwing middle-class people out of their homes and I thought there had to be a better way to make money.
On March 24th, 2009. See this statement in context.