--my thought is that there would be huge change in trading patterns, so that instead of trading volumes reducing by 40%, for all I know it might be 90%. I don't know what it would be, but it seems to me that one can't just calculate revenues on the basis of existing trading patterns pre-tax. That's the first question.
Second, I think that when you're talking about hundreds of billions of dollars someone has to pay. I can imagine people going to the United States on holiday, or people buying mortgages, or people getting loans, or.... Or is it somehow going to be limited to speculators paying?
I'd like to ask you what you think on these two subjects of incidence and the reaction of financial institutions, which would affect the revenue.