GARY G. MILLER: “Thank you, Chairman Miller, for holding this extremely important hearing on the role of the World Bank and the…”

On the recent ruling on Basel III, you acknowledge insurance companies are very different from banks, and you postponed any negative decision on that. I think that was a very, very wise move.

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.

If we are concerned about empowering consumers, we really should be concerned about their safety.

While I strongly believe in coordination among international regulators, we must resist the tendency of pursuing a one-size-fits-all approach.