Patrick Toomey actually said...

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

It is somewhat disruptive to the private mortgage insurance industry.

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

I guess the question I would like to explore a little bit is: Given the unprecedented behavior of the Fed in recent years, what is normal?