Yes it is all very dramatic, isn't it?! Jonathan Morduch and I hope to have a preliminary response available soon. The task is made harder by my need to finish a book manuscript. For now, I can say that we disagree with many specific points in Pitt's response, but we have also learned from him; and that he has helped us improve our replication. And I would emphasize that our central contention was not about whether the coefficients are right but whether the instruments are valid, i.e., whether impact has been shown. Pitt does not discuss that, but we will continue to.