The Do-Nothing Office of Federal Insurance
The wonderful thing about our government is its ability to create jobs. Not in the hinterlands, where people are faced with gut-wrenching 10 percent unemployment, but in our nation’s capital, where no bureaucrat will ever go hungry. It has been decreed unanimously by the House Financial Services Committee that we shall have a Federal Insurance Office. The bill, backed by powerful Pennsylvania Democratic Rep. Paul Kanjorski now goes before the House of Representatives for a vote. For years, many people, including former New Hampshire Sen. John Sununu and even some big insurers, have been pushing for federal regulation of the industry, saying that the current state-run system doesn’t give domestic companies enough leverage in the global market. It also requires any innovation…
0 Comments