What was the first side quest that you took somewhere that you never expected to go, that now in retrospect has taught you so much and you're glad that you took it?

Well, the side quest, uh, probably the first side quest I took was, uh, I had a serious case of what they call Potomac Fever.

I loved living in Washington, DC.

I had a great job.

I was getting well-paid.

Uh, I had a good boss, and what could be better? And my father was a member of Congressional Country Club, so I could play at one of the premier golf courses.

And, uh, it was great.

What do you understand about risk, or what did you understand about risk at 25 that you now understand differently in your 70s?

What were those early meetings like, and what were the key points of discussion, and how did this all lead to the formation of ISDA?

Well, the meetings were touchy-feely, to say the least.

You know, at the time, there was certainly different perspectives, and I'm being kind, as to swaps and whether swaps should ever be traded, whether swaps were loans.

So there was a distinct difference between how the investment banks like Solomon viewed it.

And again, there was not a great deal of consistency within the investment banks either.

And the commercial banks, which, you know, like J.P. Morgan, Bankers Trust, etc., The good news was that it was a small community and everybody knew each other and everybody had the same problem.

So yes, we convened the meeting in Palm Beach and we essentially said, okay, what are we going to do about this problem of this documentation overload that we're all experiencing? And everybody understood that we had the issue of there was no standardization in the market, but of course, every institution felt that their swap agreement was the gold standard and should be the standard by which all swap agreements should use.

Go ahead, Tom.