Mr. Cormac McCarthy:

Inherently, yes, but the circumstances were we had very low and stable interest rates so that was something we'd not experienced before and we even stressed those interest rates for 2% to 3% so stress tests were performed. In addition we had significantly reduced personal tax rates so take home pay was higher than it had been before. So the economic circumstances had changed dramatically, Chairman, but you are right, you know, we did not take enough account of potential stress, so we let our standards slip.