Yes, and you're right that regulations are right across the board, but if I can focus on federal government and in particular on the stress test, I agree with you 100% that the measure was required. If you speak to members of our industry, particularly in Toronto and Vancouver, they will agree with you, because they felt first-hand the impact of a really superheated market, and they're happy with the result that has occurred.
Unfortunately, because of the urgency with which that was brought in, and perhaps the level of coordination with which that was brought in between the various agencies—OSFI, Bank of Canada, Finance Canada—they weren't really too sure exactly how it would work, and they're probably pleased with how it's worked.
What we're pointing out now is that there are unintended consequences in markets that were not out of balance. That's where it can help—