Thank you very much, Mr. Chair.
Thank you for coming.
In fact, the only opinion spoken was not as Mr. Liepert stated. In fact, we spoke, on this side, anyway, of the significant concerns, especially to the taxpayers who back a lot of the insurance. Should the market fail, or should people not be able to pay for their homes, it's actually the taxpayers who are on the hook.
In terms of the support that the government provides, you talked about it, and you talked about it with my colleague as well, but you said there is major support in the mortgage market. You just alluded to your analogy here. Can you elaborate so Canadians know, people who have invested in their homes? Also, what are the risks if the models are correct and if the indebtedness is too high, and a crash occurred, or even a drop in terms of affordability and people being able to pay for their mortgage?
What are the risks associated to taxpayers, given the fact that the government actually supports the mortgage market in the ways that we do? Mortgage lenders acknowledge some of the highest support in the world, when comparing us with the U.K., Australia, etc.