The purpose of the insurance requirement, and CMHC's normal operation in the market, is to provide default insurance for privately originated and privately held mortgages. We are doing something quite exceptional in purchasing those mortgages.
The CMHC insurance program and the private insurance programs are already there. As you said, the government has already taken on all, in the case of CMHC, or most, in the case of the privately insured mortgages, of the default risk of these mortgages in the normal course of the operation of these insurance programs. Therefore there isn't an additional risk taken on by the government in purchasing the mortgages.