Patrick Toomey actually said...

"the drop in the capital ratio was expected to be temporary, and that it would return above 2 percent within the next 2 or 3 years, even if FHA were to make no policy changes at all."

"I will be very interested in seeing what the net effect of these changes are because we know that the interest rate component will reflect a significant adverse valuation here."

"Why should we be confident that there is not politically motivated financial repression creeping into this regulatory regime?"

"It just seems an extraordinary coincidence that something so counterintuitive to suggest that some of the most troubled economies of Europe could have a zero risk weighting."