This is one time when the insurance commissioner and the DOI act as they ought to, to protect insurance consumers. And this is another case where the insurance industry cleans up its own mess and does not need any further “regulation” at the federal level. Notice that there was no need for a bailout? Hello to investment banking, the SEC, the FDIC and Treasury: the insurance industry does NOT need your “help”. State regulation is alive well and working fine and well capitalized. Maybe the feds could duplicate these mechanisms and apply them to BOfA, Merrill Lynch et al
This is one time when the insurance commissioner and the DOI act as they ought to, to protect insurance consumers. And this is another case where the insurance industry cleans up its own mess and does not need any further “regulation” at the federal level. Notice that there was no need for a bailout? Hello to investment banking, the SEC, the FDIC and Treasury: the insurance industry does NOT need your “help”. State regulation is alive well and working fine and well capitalized. Maybe the feds could duplicate these mechanisms and apply them to BOfA, Merrill Lynch et al