Thank you very much, Mr. Chairman.
Gentleman, thank you very much for taking time to be with us here this morning.
My first questions are directed to Mr. Boudreau and Mr. Howard. You talked in your presentation about what pervasive anti-selection would mean. You gave an example of the United States Affordable Care Act, better known as Obamacare. You said the predictions were that there would be large losses for insurers, and this is exactly what has happened. I think you gave us some details. You said that for Aetna and other companies this has been a disaster.
As you went on in your presentation you came up with an amendment and suggested that we adopt the amendment, but at the final bulletin you put up here, you said if we pass this amendment, this is not going to protect insurance companies. I'm wondering if you could reconcile that? You said without this was a disaster in the United States, as an example. You proposed an amendment but you said it's not going to help insurance companies. I'm a little bit confused.