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 the availability of products.
Discussing risks of harmonizing U.S. and European capital standards.
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It is important for America, as foreign insurers operate in our market, that they be subject to a regulatory and supervisory regime that is at least as tough as ours.
It seems to me that much of the legislation and hearing activity in this committee results from the unintended consequences of previous laws.
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There is no amount of higher loss absorbency that you could have put in or contemplated that would have prevented the meltdown of AIG.
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