And they wouldnt have stopped any of it. You couldve made all those bad Mortgage Loans. And then the question is if you break up the bank and its its part of the issue. Its one of the things that we asked him to look at with regard to discretion. And so why i changed my own position, i believe didnt agree with this but they are part of the complexity and i think that its not just about complexity but its a very good way to diminish this complexity. So my question is what is the level in which you have to get them down and precipitating this was a failure of the Lehman Brothers, so presumably if you think that no bank should be too vague than the big issue would be Lehman Brothers was like this at the time. And so then how does the federal Government Order dismantlement. I do think the complexity issue of the bull rule also has an amendment that was offered by paul when he was here which does give the fed the power to order the divestiture of any particular segment in particular institu
Different dynamics. An air tran area. Georgia, a state that has gotten some attention, an urban area like atlanta, you have a lot of different providers, lot of different providers competing, a lot of choice and variations of very competitive marketplace is. For providers as well as for plans. In other parts of the state we may be only insurer and then maybe the only hospital network. And so a lot of the variation for ross has to do with the provider network, the formularies, really with the underlying cost of care which gets automatically reflected in the rate. We cannot lose sight of the fact that ultimately on the cost of care. I would add to the point that from a rating perspective carriers of the flexibility to include the geographic rating factor. You may be across a different area and end up with variability because carriers can price based upon geography. If i could add three quick things. The first is it is important to emphasize that we have to look at aggregates instead of a
[inaudible conversations] to spend glass afternoon everyone then director of the center at the Atlantic Council event on behalf of my colleagues i want to welcome all love you to our second event in todays on afghanistan. For obvious reasons the attention is now focused from our side even though we know washington bag gets distracted by the crisis of the day we felt it very critical that we continue our focus on afghanistan and in particular because looking at this country and if the surrounding neighbors over the last five and a half years we felt it period important we continue with the issues of the critical juncture with the development of the policies so even while we wait for the final results of the election we felt it is critical to share with you of what to expect. I am delighted with of the transition and transformation and i am very pleased to welcome to day paul frost the chief far the imf and is a former colleague from my own days at the fund and has a very rich background
Looked at and chosen that not to offer at this time until we figure out the risk. Were a little behind the curve on some of the new technologies. Thats the impact of the risks that we try to face each day. I want to get back to a few more questions with you. I want to just remind this committee where this all started from. I want to go back to september 25th, 2003. A hearing here at Financial Services committee hearing. Chairman frank, you said on the record, i do not want fannie and freddie to be Just Another Bank. If they do not more than Just Another Bank sorry. If they were not going to do more than another bank would be because they have so many advantages then we do not need them. And so therefore, i do not think, i do not want the same kind of focus on safety that we have at occ and ots. I want to roll the dice a little bit more on the situation toward subsidized housing. In the gsc act congress initially specified Affordable Housing goals of 30 of mortgage purposes. That goal i
We thank the witnesses for being here and it seems to have developed among some of the members that the costs of some of these regulations and the red tape thats resulted from these regulations, a lot of that has been testified to by mr. Wilson. A lot of it is either not real or either not real or if it is real its not having an impact or not significant. In fact, it seems that were heralding that this is a good bill because wall street has hit alltime highs. And i would suggest that may be true but it does not properly reflect the overall economy and the reality that the folks i represent are feeling. And i represent virginias fifth district, a rural district. 23 counties and cities. Mostly main street america. Weve had in the last six years unemployment in parts of our district as high as 20 . North of 20 . Theres still localities in our district where we have unemployment almost as high as 10 . Our economy is struggling and we need jobs and we need to capital. We had access to capit