Mr. Chair, we're very fortunate in Canada not to be going through the experience they've had in the United States with the sub-prime market. At the moment there is no evidence that we are faced with such a problem. Nevertheless, the Canadian Home Builders' Association believes that with a more competitive mortgage insurance market, which we endorse, conditions should be placed on the guarantee that government provides to mortgage insurers, conditions that would very much limit if not prohibit the emergence of sub-prime activity in Canada.
On November 28th, 2007. See this statement in context.