Jeff Merkley actually said...

"So I want to back up and see if I heard you correctly. You say that commodity trades in the near past sometimes were unsettled for 3 or 4 years?"

"So if I am an investor, would I not want to pay a higher price, if you will, for loans originated by community banks and credit unions where they have a tradition of kind of honest underwriting, if yo..."

"Government catastrophic loss protection would be paid for by an appropriately priced co-cop premium."

"Well, and in essence, the investor was looking at pools that mixed the loans from many sources, so they did not have really a choice of discriminating as far as I am aware."