Kevin McCarty: “It is important for America, as foreign insurers operate in our market, that they be subject to a regulatory and…”

When you try to harmonize those two, you're creating the potential for great disruption in the delivery of different services in the marketplace, a potential raise in prices for consumers in the United States and potentially jeopardizes…

There is no amount of higher loss absorbency that you could have put in or contemplated that would have prevented the meltdown of AIG.

Absolutely. I think for all intents and purposes, if you look at insurance, the diversification of risk actually helps minimize systemic risk.

It seems to me that much of the legislation and hearing activity in this committee results from the unintended consequences of previous laws.