Dr. Graham Love:

I do not want to waste the committee's time except to point out the growing regulatory role of the HEA. That comes out of the Hunt report. We have started down that road and we need more and we will do more. I want to stress that even where we have an oversight and the capacity to go in and investigate, we should not let institutions off the hook for the capacity for a certain capability of that themselves. It is important that they have that capacity through their audit committees and otherwise. Yes, we should sit above that and be capable of going in when necessary. That is a culture that we want to improve in the institutions.