They are a real concern for the economy. I don't think, however, that non-growth in earnings is nearly as frightening as a decline in assets. One of the things we used to see was that no one wanted to own the banks. It was lost in the Savings and Loans. But the losses in commercial banking were all covered by FDIC insurance and now that's OVERfunded.
Energy is a pretty major bet.
We like the energy business and that's a contrary opinion. It's a defensive holding. But we also have some holdings in the energy service sector. Since 1982 the oil service sector has been the worst performer. That's a long time.