Finance committee  In the global financial crisis, we bought $69 billion of mortgages from banks. That was in the 2008-09 time frame.

Finance committee  Do you mean as a result of the IMPP?

Finance committee  Goodness, I don't have those numbers. I'll try to get that information right now, but we did profit. We did earn a spread on that money.

Finance committee  I'll get you the numbers.

Finance committee  It's surplus income returned to the government in the form of deficit reduction. We did increase the fees this time. Last time, we charged a spread of 25 basis points. Right now, we've been charging 40 to 50 basis points for the program.

Finance committee  These are all insured mortgages that we're buying. Therefore, there's no credit risk inherent in the program.

Finance committee  I'm not sure they're heeding my advice. It's probably read by four million people.

Finance committee  I did go on a TV show on CBC to communicate the same message, because I thought it was important.

Finance committee  Well, I can't. The evidence is that there has been some non-payment of rent, and of course, deferral of mortgages that people have abided by. I was really signalling to people that if they have the money, our economy needs them to spend it. By and large, that has happened. Ther

Finance committee  Yes.

Finance committee  It's a complicated question. Mercifully, I get to think about it all the time. The 12% I gave you in terms of deferrals is for insured and uninsured mortgages, so it incorporates numbers that we publish and those from the Canadian Bankers Association. I wouldn't associate even h

Finance committee  That's contractually what happens.

Finance committee  Yes.

Finance committee  I wouldn't substitute my views for those of the governor.

Finance committee  You can see my bodily reaction when I hear this “dream of home ownership” thing come up, because that view.... Unfortunately, trees don't grow to the sky, and what's going to happen is the musical chairs game is going to come to an end and young people, who are very highly levera