damned if you do, damned if you don’t – are you pro the con of federal regulation?

“This is a halfway house,” Lord Levene said of a proposal devised by U.S. Treasury officials earlier this year that would create a federal office for insurance regulation.

Wrong house, Lord Levene, try Animal House.

Ladies and gentlemen, I’ll be brief. The issue here is not whether we broke a few rules, or took a few liberties with our female party guests – we did.

But you can’t hold a whole fraternity responsible for the behavior of a few, sick twisted individuals. For if you do, then shouldn’t we blame the whole fraternity system? And if the whole fraternity system is guilty, then isn’t this an indictment of our educational institutions in general?

I put it to you, Greg – isn’t this an indictment of our entire American society? Well, you can do whatever you want to us, but we’re not going to sit here and listen to you badmouth the United States of America. Gentlemen!

How do we begin to regulate an industry that made Katrina a toga party?

I think we have to go all out. I think that this situation absolutely requires a really futile and stupid gesture be done on somebody’s part.

The only question is who’s going to step up with the really futile and stupid gesture? Reuters has theĀ  the story.

The United States is expected to embrace federal regulation of the insurance industry as early as 2009, Continue reading “damned if you do, damned if you don’t – are you pro the con of federal regulation?”