Posted On: October 28, 2008, 3:40 pm CDT

Posted By: Bill the agent

Agents and a majority of the insurance industry have long stated that State regulation is more responsive and reliable than Federal regulation. The proof is in the fact that insurers remain liquid and financially solid - No thanks to the Fed. Investment and reserving requirements imposed on Companies by State regulation are far more stringent and effective than what our Federal regulators can ever hope to muster. Beware of Treasury's attempt to "bait" companies into accepting un-needed and un-wanted Bail-out dollars! Once "hooked", Treasury will "nationalize" the insurance industry and raid insurers' solid, low-risk assets (the types of "boring" but safe investments required by STATE regulation to protect consumers) to supplement the JUNK mortgage industry assets they have purchased with OUR tax money. Once accomplished, insurance consumers will be thrown into the same Government-made morass as hapless innocent borrowers - begging the Fed for a handout..