Thank you very much, Mr. Chairman.
Thanks to the witnesses for coming back this week. I'm sorry we didn't have more time last week.
Last week, we seemed to hear from everybody, “It's not us. It wasn't our responsibility. The situation was unique. Things are all better now. Don't worry. There's nothing to see here. Move along.” That doesn't give me a lot of confidence going forward. No one is taking responsibility for this, and that's worrisome.
First of all, my question is to Mr. Hubbard and to Ms. Milutinovic.
In your testimony last week, you both talked about the responsibility that your agencies or departments have to monitor what's going on. Well, what happened? If you're supposed to monitor this, why didn't you see it coming and why didn't you do anything about it?