This was our best year ever for the generation of net income.

There is no income tax in Russia. But there's no income.

We achieved solid results this quarter, despite more volatile market conditions and declining trading volumes, predominantly in the fixed-income markets. Furthermore, weakness in the Nasdaq, particularly technology shares, led to a decline in equity new issue activity.

They're really crossing their fingers, because the disposable income is so low. It's going to take a lot to trigger that emotional buying habit.

They're really crossing their fingers because disposable income is so low.

It is important that those selected for the Survey of Income and Program Participation respond because the results of the survey will enable policy-makers to address a multitude of critical issues,