Our readers no doubt remember our recent post on George Bush political lackey Mark Racicot being curbed by the American Insurance Association from his $1.8 million dollar a year job with them. Our take was vastly different from the Kool Aid being served by AIA at the time. Today, the New York Times picks up the story and puts a slabbed like analysis on the recent turnover on K Street:
Richard Hunt, a top Republican lobbyist for the securities industry, was among the first to go, just a week after the election. Marc Racicot, the president of the American Insurance Association and former Republican Party chairman, resigned a few days later. So did Frank L. Bowman, the retired admiral and Republican-leaning chief of the nuclear energy lobby, citing “this period of dramatic change in Congress and the White House.”
All were casualties of a broad shake-up of the lobbying world set off by the Democratic ascendance in Congress and at the White House. Continue reading “The New York Times on Bush Lackey Marc Racicot Leaving the AIA: “Don’t be the last guy off the (Gravy) train””
The impending change of administrations means George Bush’s 2004 campaign manager’s usefulness running the AIA is done. His creditials are simple impeccable having worked for such stellar examples of the GOP capitalist model lobbying for Enron.
In the aftermath of the meltdown of the financial system of which AIG is the poster boy I find this blurb from the AIA website most ironic:
Unfortunately, some public policymakers wrongly believe that imposing heavy-handed pricing or other regulatory requirements will solve market problems arising from the increased costs of natural disasters; in truth, these “solutions” actually make market challenges worse.
Yeah guys, having Uncle Sam stick his head in the sand while traders at AIG help implode the financial system trading in unregulated markets works great eh?
Arthur Postal has the story at the National Underwriter complete with the lip stick on a pig quotes from both unnamed sources and Hank Greenberg’s son Evan while Ken Crerar knows the score however: Continue reading “Bush Political Lackey Marc Racicot Curbed by American Insurance Association”