Individual foreign and domestic banking organizations in the past have, from time to time, suffered large losses in the derivatives and private equity markets. We will not be immune from such events in the future.
To add imagery to this message, let me take Mt. Everest as a starting point. Everest, known as the roof of the world stands twenty-nine thousand and thirty-five (29,035) feet above sea level. This is the ultimate goal of hard-core mountain climbers, the highest of heights. On 29 May 1953, a New Zealander, Sir Edmund Hillary and a Sherpa, Tenzing Norgay, successfully climbed Mt.