Patrick Toomey actually said...

I do not dispute the legal authority to do it. I am just--you know, as I say, it caught us by surprise.

the Government came along and abrogated that agreement and basically forced a new agreement whereby it just confiscates everything that is e...

Thank you, Mr. Chairman. Director Watt, thanks for returning to the Committee. Good to see you again.

It is somewhat disruptive to the private mortgage insurance industry.