where we gave germany forbearance as opposed to deal wig germany after world war i where we sought to squeeze blood from a stone. we did this after the civil war in this country. we did this with latin america in the '80s. is it time to really get into a conversation about restructuring debt, housing debt, government debt, global debt at this point? with us is our specialist william kohan, author of "money and power ". governor pataki, sam still with us. how would he racket to a restructuring proposal. >> dylan, i give you credit for a deal i had not heard before. you're proposing oust court restructuring. forget if you could put the u.s. government into federal bankruptcy court and ge down that path, but while you try to have people give discounts to their debt out of court, very, very painful.