Patrick Toomey actually said...

"So if you use that methodology for different borrowers, is it fair to say that that methodology fails to capture the different credit quality of different borrowers?"

"I think CBO's hands are tied, is my understanding, into a methodology that does not sufficiently take into account the different range of credit risks that we take as a government."

"And failure to do so would absolutely mislead about the nature of those risks."

"There is a systematic risk that we are underestimating the risks of the assets that we are claiming."