GARY G. MILLER: “We cannot afford to hamper job creation, and to lock up capital at this very fragile time.”

For the past century, and through multiple financial crises, the State-based insurance regulatory system in the United States has been successful and has protected policyholders.

The rules being proposed are bank-centric and do not take into account the fundamental differences between how banks and insurance companies operate.

I applaud you all for your effort. It is working. You are talking about it today. You started the testimony today about how the numbers are decreasing.

Whether you support GSEs or not, if they are out of the marketplace in this market, it could be devastating.