Why now for specialty finance?

It is an exciting time specialty finance and it's a confluence of a number of different reasons: higher rates and what it's doing to banks, says PIMCO. PIMCO says we're seeing less competition from where we were several years ago. Rate volatility has reshaped the landscape, not only in terms of what's happened with the regional banks, but also in terms of the non-bank originators that were a large player in these markets a couple years ago. "We're finding opportunities as I said, we like where the consumer is at from a health perspective going forward and we're able to go up in credit and...