  Transport studies seem to be one of the strongest lines of support for a
preformed pair approach to the pseudogap. In this paper we provide a fresh,
physically transparent look at two important quantities: the diamagnetic
susceptibility and conductivity. We use a three dimensional preformed pair
framework which has had some success in the cold Fermi gases and in the process
we reconcile recently observed inconsistencies. Specifically, while the
preformed pairs in our theory give a large contribution to the diamagnetic
susceptibility, the imaginary part of the conductivity is suppressed to zero
much closer to $T_c$, as is observed experimentally.
