11/30/2011
https://www.congress.gov...
"The current setup where all of the gains are privatized while some of the losses are socialized is not an environment that fosters innovative solutions and accurate pricing."
"I am fairly new to the banking industry but not new to following TRIA."
"In listening today, my question is, is there a doubt that there will ever be, in your minds, a private terrorism risk insurance without a TRIA program?"
"The unwillingness to even discuss a wind down of TRIA and potential perpetuates the disincentives to innovate beyond the current TRIA framework."