So, of course, after this happened--Washington knows best--the big brother government sort of ran to everyone's rescue.

I will clearly state that I have been a supporter of an optional Federal charter--I know that gets some people all worked up.

Could you cite that law to me?

What I do think is that if we are going to have Federal regulations, which I don't oppose, then you need to come to Congress and say, 'We want to have Federal regulations on insurance companies.'

Can you point to me the law that empowers any United States Federal agency at the Federal level to regulate a non-SIFI, non-bank-owning insurance company?

So you are suggesting that the IAIS is something along the lines of a model law, trying to do best practices to suggest, to help our State friends see the light?

There is no such thing as privately-funded affordable housing, period.

I guess I need to ask, you do realize that housing costs are different across the country.

I think this is an important hearing and I think this is an important subject, but I think it is a very delicate subject.

I don't want it to look like I am 100 percent in favor of all things low-income.

There probably will still be poor people in Washington and in the rest of America.