Banks should be in banking and Insurance Companies should take care of insurance. It seems that when either one enters the other arena good and efficient business practices suffer. Banks have not done such a great job in the Mortgage markets and now perhaps, in a few years there will need to be a Federal Insurance Bailout too if they continue. I think old laws are sometimes the best laws, and if my memory serves me right wasn’t there legislation in the twenties restricting banks to banking…..Sounds pretty good to me.
Banks should be in banking and Insurance Companies should take care of insurance. It seems that when either one enters the other arena good and efficient business practices suffer. Banks have not done such a great job in the Mortgage markets and now perhaps, in a few years there will need to be a Federal Insurance Bailout too if they continue. I think old laws are sometimes the best laws, and if my memory serves me right wasn’t there legislation in the twenties restricting banks to banking…..Sounds pretty good to me.