We haven't invested in our franchise or business lines or client base as aggressively as we should have. Clearly we had execution misses.

We have not invested in our franchises ... as aggressively as others or as aggressively as we should have. And we've had some execution misses.

We could hit that ROE in 2006, but we don't expect to, We can generate earnings at that run rate through 2007.

We've had better attrition rates this year. We had bad attrition last year, mainly because of compensation.