I'd like to get back to you, Mr. Minister of State.
We know that in 2008, the United States had a financial crisis that triggered a global crisis. Fundamentally, derivative products were at its root cause. These products also exist in Canada, but they are not regulated. Through CMHC, Canada was forced to accept toxic products. You mentioned that there were some good loans, in fact, but CMHC was forced to take back, unless I am mistaken, up to $1.5 billion worth of toxic products.
At the time this bill was being drafted, five years had gone by since the last time we studied financial institutions. Would that not have been a good opportunity to regulate these derivative products?