It is always a horror-show when bankers attempt to regulate the insurance industry. And the resulting mess will negatively impact insurance companies, producers, and policyholders. Part of the problem is the insurance industry’s fault for not educating the public about the very real and significant differences between the insurance industry and the banking industry. Part of the problem is the arrogance and ignorance of bankers. And part of the problem is the Federal Government’s ignorance about the differences between the two industries.
It is always a horror-show when bankers attempt to regulate the insurance industry. And the resulting mess will negatively impact insurance companies, producers, and policyholders. Part of the problem is the insurance industry’s fault for not educating the public about the very real and significant differences between the insurance industry and the banking industry. Part of the problem is the arrogance and ignorance of bankers. And part of the problem is the Federal Government’s ignorance about the differences between the two industries.
Didn’t they designate them systemically important when they bailed them out of trouble 5 years ago?
Has AIG completely divested itself of it’s bank & asset management holdings?