They’ve had 9 months to nominate an independent insurance expert to the FIO. The whole thing is crap. The FSOC is going forward making legislation that regulates an industry that they don’t even understand and they are doing it without the one person who could vote to stop the madness.
Unfortunately, they don’t have to understand the insurance industry, they only have to think they understand it and that is good enough for them that adding an insurnce expert is redundant.
LOL…. Anything that is named after (what a deal on my loan)DUDD and (I love Fannie) FWANK, can not be any good at all.
COMON MAN! You really have to be kidding, I think they are wanting to add another layer of government at the federal level. Like our budget can handle any more? This administration, Senate and whats left of the liberals in the House are absolutely oblivious to the fact WE ARE BROKE AND OUR CREDIT SCORE JUST WENT TO 500.
There are 2 issues here. Give them credit for trying to prevent a “too big to fail scenario.” But, that only should apply to financial entities other than insurance providers. If we venture away from state regulation of insurance companies in favor of national regulation we (insurance people) could be in trouble. Hopefully people will recall that the “insurance” side of AIG was in good shape when everything went crazy. Remember also that the NY insurance department approved an emergency loan from the “insurance” side AIG the parent company. The parent company of AIG caused this mess.
D. AIG did not cause the mess, They sold bundle mortage backed securities that were bundle piles of cr*p, that Fannie and Freddie manufacutured with the assistance of both – What a deal-Dudd, and Fannie lover-Fwank. It really all began with the creation of Community Reinvestment Actm, which put extreme preasure on Fannie and Freddie to make loans to unemployed homeless people with $0 down. Boo Hoo! Well, I am sure even you can see what that eventually got us. Forget Wallstreet, They are not the cause, they are the effect of artificial easy money on the street from the Feds, Fannie and Freddie are really just another wellfare arrangement by congress and democrats to the tune of hundreds of billions annually in deficits.
They’ve had 9 months to nominate an independent insurance expert to the FIO. The whole thing is crap. The FSOC is going forward making legislation that regulates an industry that they don’t even understand and they are doing it without the one person who could vote to stop the madness.
Unfortunately, they don’t have to understand the insurance industry, they only have to think they understand it and that is good enough for them that adding an insurnce expert is redundant.
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LOL…. Anything that is named after (what a deal on my loan)DUDD and (I love Fannie) FWANK, can not be any good at all.
COMON MAN! You really have to be kidding, I think they are wanting to add another layer of government at the federal level. Like our budget can handle any more? This administration, Senate and whats left of the liberals in the House are absolutely oblivious to the fact WE ARE BROKE AND OUR CREDIT SCORE JUST WENT TO 500.
There are 2 issues here. Give them credit for trying to prevent a “too big to fail scenario.” But, that only should apply to financial entities other than insurance providers. If we venture away from state regulation of insurance companies in favor of national regulation we (insurance people) could be in trouble. Hopefully people will recall that the “insurance” side of AIG was in good shape when everything went crazy. Remember also that the NY insurance department approved an emergency loan from the “insurance” side AIG the parent company. The parent company of AIG caused this mess.
D. AIG did not cause the mess, They sold bundle mortage backed securities that were bundle piles of cr*p, that Fannie and Freddie manufacutured with the assistance of both – What a deal-Dudd, and Fannie lover-Fwank. It really all began with the creation of Community Reinvestment Actm, which put extreme preasure on Fannie and Freddie to make loans to unemployed homeless people with $0 down. Boo Hoo! Well, I am sure even you can see what that eventually got us. Forget Wallstreet, They are not the cause, they are the effect of artificial easy money on the street from the Feds, Fannie and Freddie are really just another wellfare arrangement by congress and democrats to the tune of hundreds of billions annually in deficits.