09/19/2023
https://www.congress.gov...
"So, in other words, this is just a giveaway program from the U.S. Government that you are not pricing for now?"
"I appreciate--I am afraid I am going to be out of time here, but I really do have to say on this; this whole thing is premised on the fact that the U.S. Government will be called on to backstop if the..."
"TRIA has served an important function in this market. It has given us certainty when we would not have had it."
"You are not pricing for the risk that the American taxpayer is absorbing."