4 thoughts on “Tuesday Afternoon Music: Dedicated to Allstate, The Hartford and $enator Chri$ Dodd”

  1. The best way for the government to bail out insurers would be for the feds to take over major cat risk. Passage of the Taylor bill and then working on a federal all-perils nat cat plan would substantially reduce the insurers’ capital reserve and reinsurance requirements and free up money to pay their annuities and other obligations.

  2. Perhaps but before these clowns get the sense to come see you guys their going to make certain every state insurance commissioner they own, like the ones in Connecticut, Ohio and Iowa let them cook their books and count silly things like Deferred Tax Assets as regulatory tangible capital which actually hastens the death spiral IMHO. Frankly I’d be more inclined to let the Federal bankruptcy courts sort this mess out, that is what they were created for after all.

    Our post on Morgan Stanley CEO/moneychanger John Mack has drawn lots of interest lately right along with our post on Chri$ Dodd. In the aftermath of the financial implosion inquiring minds are finding out and now understanding much of what we’ve been saying all along.

    At this point the longer these dead enders draw this out, the stronger our hand becomes IMHO. I know this, we’re not going to stop until every person in this country is educated on the causes of this disaster called 21st century american finance. Greed will get you every time.


  3. Naturally, I agree, Brian, but the problem is they want to run the publicly funded programs and run them by their rules – not the rules that apply to other sub-recipients of federal funds.

    Gene’s bill is probably the “cleanest” piece of legislation to come down the pike in a long time.

    For those who want to hide some unintended benefit, that’s a problem.

    Do you have bill number for this session?

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