11:49:44

COHANI don't know if you pay more, but if S&P does not rate -- you know, there were three, you know, ratings firms basically. It was sort of an oligopoly and it still remains that way even though there are people trying to get into the business. And if you -- and if S&P didn't give Goldman the rating it wanted on these mortgage backed securities, it would go to Moody's or it would go to Fitch or whatever it was, so they all knew this. So basically the answer was rate all of this stuff, as much of it as possible, as AAA. And that which didn't get rated AAA got lower ratings, was repackaged up again and sold again so that most of that was again rated AAA.