03/14/2012
https://www.congress.gov...
"When you bring in the concept of affordability, you are basically subsidizing the risk, and you are incentivizing people to build where, truthfully, unless they can afford to do it, they probably shou..."
"As the NFIP was reauthorized, there is no affordability."
"Half a trillion. Sorry, sir."
"Thank you, Mr. Chairman, and thank all of you for coming in and testifying."