I hear that!!
Give a look at AIG, they had the biggest voice of all. Without hardly batting an eye the govt handed them $175b, and more coming down the pike.
Every State has insurance commissioners, where were these guys when all this was going on?. They turned a blind eye to the fraud that was occurring. Not only will the taxpayer being paying for all this twice over, but their hope may very be that they are looking to raise premiums in the future not lower them...........all the insurance companies would have to be in agreement with whatever they do?, but would any of this come as any surprise?.......when premiums are so high, and if they get more an more elevated many drop or have to drop their insurance coverage.........and many may have never used it, or never needed to, or very little, and the one day they might they don't have it. Insurance companies are devilish..........they discriminate because they can, and they can drop anyone because they can.
just give thought to how whole life insurance policies are written, or term, and over the years as a person gets older the policies either erode in value, or the premiums increase, and the insurance companies bank on people cancelling having paid on these policies for years, decades.
Just how big a voice they have, if they have any-kind of role in all of this, and on what side of the fence they stride, and in whose camp they might be in for everyone's individual State may be something to look at?. Where they stand on these issues, and what they've accomplished for consumers if anything?.
If they are in position to make sure the insurance companies are in compliance and following the laws, and Federal guidelines where were they when all this business was going on?.
