Patrick Toomey actually said...

"Dodd-Frank was basically put in place and rushed the way that it was to create clarity in the markets, and anything but that has happened."

"I also believe this system will help us hold insurance companies accountable for covered losses rather than forcing taxpayers to foot more of the bill through the deeply indebted National Flood Insura..."

"I believe this proposal will provide more structure in the marketplace, which should increase the availability of insurance and competition, thus driving down premiums over time."

"Thank you very much, Mr. Chairman and Ranking Member Grassley. Let me thank each of you and Senator Leahy, as well, for the courtesies you have extended to me as we have gone through this process."