I remember telling him if you're going to move funds around you better see if it was done in the past to see if (former treasurer Ron Graves) had done it, ... But it's just not something I would do for Ron or Bill, to authorize the use of funds.

I didn't give a legal opinion on any of the funds in question,

He was concerned about going back to the board, ... I do remember saying 'You have to do something,' and he left. I was kind of surprised that there were any transactions from internal accounts. I thought the $1.5 million we borrowed at the start of the month and the $3 million that the school district borrowed later that month would have been sufficient.

We are also in the grips of liquidations by hedge funds and a lot of dealers don't want to see big exposures,

I am a very lucky guy. I can testify before Congress. I can raise funds. I can raise awareness.

I really don't hold grudges. I mean, I remember everything, but I move on.