Earl Pomeroy: “I respectfully request to submit the following letter to the record from the Bank of North Dakota for the hearing the…”

I just want to begin, Mr. Chairman, by thanking you for this hearing and commend this panel in particular.

The thing that really gets me about all the work we've done is we have another lake rise of 2-3 feet bringing a new host of problems that only get more difficult.

It is a privilege to get to hear you.

I believe that when it is a securitized issue spread around with no remote concept of insurable interest, you raise profound questions about whether or not this tax incentive ought to apply anymore.