skinner, because mr. skinner, you've spoken at length on the need to establish a federal presence on insurance in the united states as well as the problems e.u. regulators have run into when trying to negotiate with the various state insurance commissioners. there appears to be a consensus that something should be done in this regard. to what degree remains obviously questionable. when is an office of insurance information just an office to collect data? if this office is created without strong preemptive authority over the states, weakening the ability of tto ac nationwide, how effective would it be in the long run? >> thank you, very much. mr. royce. i expect that you know the answer partly yourself. in many ways any international level its countries and groups of country that's have to work together in order to get the global rules which will prevent the future systemic risks and those systemic risks as we discussed today are at the root level, the risks it takes and premiums it doesn't charge, et cete

skinner. we called him over here to enjoy that. i think that we gained a lot from the international exposure of having mr. skinner, but all of the participants on the panel were extraordinarily contributed today, and i think even the greatest doubters on the committee may tend to say that we moved the ball down the field further with the result of this hearing. i want to thank you again for being part of it. i look forward to future hearings on this very subject and now the panel is dismissed and this hearing -- >> before you adjourn, just to enter something in the record. from the ai alert of june 5th to larry summers. >> didn't mean you hold up an extra 30 seconds, but i did want to make it into the official record. thank you. >> thank you, mr. chairman. >> thank you. >> now from london, prime minister's question time. live from the british house of commons. every wednesday while parliament

skinner, look forward to your tenure. mr. skinner. >> thank you very much, chairman, congressmen and honorable members of the subcommittee inviting me here today. this is a special occasion for me if nothing else for the fact i have just been re-elected, but also to come here to know that i'm usually sitting your side of this table rather than here. it's a great honor to be here and i appreciate that. i'm peter skinner. i've been a member of the european parliament since 1994. this month i was elected for my fourth term. i'm a member of the economic and monetary affairs committee and directly involved in what's known as the transatlantic regulatory dialogue. i had a discussion between congressman berkeley. we talk regularly about issues like this. i was previously sponsor of the bill of reinsurance directive in 2005 and sovereigncy ii that will pass into law and pass into the countries by 2012. each country is moving towards that introduction. i fully understand and respect from the start the need for each trading block to in

skinner and others. >> thank you plmuch, mr. mcrait. next we'll hear from teresa on behalf of the mortgage income companies from america. miss bryce? >> thank you, mr. chairman, ranking member garrett, members of the subcommittee. i appreciate the opportunity today to testify on behalf of the mortgage insurance companies of america, the trade group representing the private mortgage insurance industry. mortgage insurance enables foreigners to responsibly buy homes with less than a 20% down payment. many of these are first-time and lower-income borrowers. since 1957, mortgage insurance has helped over 25 million families purchase homes. today about 10% of all outstanding mortgage loans have private mortgage insurance. this morning i would like to make three points. first, we do not cause or contribute to systemic risk. to the contrary, we absorb risk. if a borrower defaults, mortgage insurance pays the lender or investor 20% to 25% of the loan amount plus expenses. the insurance payment plus the proceeds from the sale of the house makes u

skinner and other national regulators. i'd also like to make the point that concerns over regulatory arbitrage and the context of the federal ininsurance charter are without merit. the life insurance business is not seeking nor this congress ever consider enacting a federal insurance regulatory system that has weakened consumer protections or solvency oversight. it has consistently advocated that is as strong as if not stronger than the state regulatory systems. if anything, the optional federal charter would result in the states being which will efrjed to raise standards to meet those of the federal regime. mr. chairman, there are a number of ideas being considered in how to address insurance in the context of overall regulatory reform. we applaud you for reintroducing legislation that would create an office of insurance information within the treasury department while our ultimate goal remains an optional federal charter and an oii would certainly be a step in the right direction. we are representatives bean and roadways

the court didn't resolve it in erlandson that the majority of the court voted -- this situation in skinner against o'brien is about whether they could vote at all, not whether it is a privilege to vote absentee. that is what it has become in this site. is this court -- >> doesn't the legislature have a right to be concerned and put in a strict standard? don't we defer that the legislature's decides the strict standard. the cases are replete where fraud happened with absentee ballots. >> if you go against prints, those cases all say that when a person makes a good-faith attempt to vote, absent fraud, substantial compliance is about, absent fraud, maybe the law -- maybe it is the character of the people in minnesota. i do have 2 fraud cases to answer your question. they're both fraud cases. >> can i ask the question? counsel, do you concede that under 2043 subdivision 6, that a candidate has the right to challenge ballots in the precinct, at least with respect to this statute, the return on the low would be cast at the precinct and therefore the candidate would have the right to challenge th

would go out in the morning at daybreak and shoot for a couple hours, usually limited by how many skinners' he had and if it is called the carcasses would freeze and if it is hot, they would be hard. a guy in montana killed 210, one day. i never heard of anybody killing more than 210. other guys claim 160, 170. buffalo bill cody got his name above the the shooting contest where he killed 181. that is what it would look like before you picked up bones. this is my favorite buffalo related place in the world. it is called wild horse or a toyo in new mexico. it was destroyed by a flash flood in 1908. the guy who lived nearby was named george make junk and he moved to new mexico to work on a ranch. i like new mexico because they sided with the union. you got a job working at their ranch after the flash flood. he was in this area, and 16 watched out fences. he recognized buffalo bones are much bigger. he spent his life trying to get somebody to look at them. he looked at the museum in denver, no one would come and look, he died about college in. he was drinking with a straw because he couldn't l

you would have a high hunter who would work with to skinner said he would go up the morning at daybreak and should for a couple of hours. he was usually limited by how many scanners he had and also the weather. it was called the carcasses would freeze ended there would be hard to scan. easily killed about 40 but a guy named convicts smith was hunting outside of montana and he killed to london 101 day. other guys, i have never heard of anybody killing more than 210 and monday but other guys would claim 160, 170. buffalo bill cody got his name in a shooting contest where he got-- killed 108. that is what it would look like before you came and picked up bones. jump ahead. this is my favorite buffalo related place in the world. what it is coming thing called wide-- wild horse oil. it was taken outside of new mexico. folsom mexico was destroyed by a flash flood in 1908 because the guy who live nearby at a ranch called crowfoot ranch was a slave who was freed at emancipation and taxes proclaim move to new mexico to work on a ranch. he always liked to mexico because they had sided with the uni