internationally with supervisors from other countries we participate in colleges, monitoring berkshire, aig, zurich, swiss re, allianz and others. it is not a source of systemic risk and not one insurer imposes system risk. insurers may be challenged by failure in other sectors as with aig, but the utmost vibrant markets in the world mean the demise of any one insurer will not alter our country's financial stability. also, contrary to misleading alarms, our state guarantee fun system has the wherewithal and creative force to resolve insurance failures, even multiple concurrent failures while protecting consumers. we support systemic regulation, pledge our good faith interaction and renew our commitment to engage constructively with this committee. thank you for your attention. i look forward to your questions and replying to comments made by mr. 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 opportuni