Quite a bit of that was related to the the acquisition cost of FSA which I had hoped were mainly sunk last quarter. During the question and answer session at the Keefe, Bruyette & Woods 2009 Insurance Conference, Dominique said that there were only a few expenses left, mainly "severence packages". I guess he was wrong. As far as other operating losses, they could have been much larger, had AGO underwritten less conservative guaranties like MBI and ABK have. I think those losses will deminish as the economy recovers, and AGO is in a great position to take advantage of it's industry. AGO's purchase of FSA will greatly increase future earned premiums (tripled this quarter) and they may soon be purchasing ABK and MBI's books in the near future. This isn't a stock to be sold.