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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (16444)	7/30/2009 4:27:50 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 103300

Re: "No control," You mean no regulation of the sale of insurance products AT ALL? (Anything goes? Sell anything and no cops on the beat?) Impossible. That will never happen. Re: "just remove the State barriers" That IS 'federal preemption' --- OVERRULING STATE REGULATIONS. Right now, only the STATE REGULATORS can approve which insurance companies can operate in their own state, what the rules are for their conduct, etc. The ONLY WAY that you can force states to accept anything else is to take away the STATE'S monopoly on regulatory power in this area. To tell the 50 States that YOU (whoever 'you' is) decide what insurance products can and cannot be sold in their states... what the rules are the insurance companies must follow there... what financial reserves they are required to keep, etc. IF the feds take-over regulatory authority of insurance then the STATES (who have it now, and have had it since the Great Depression or before) must give it up. There is no other way.... Re: "you're making a mountain out of absolutely nothing..." No, I am not. It's really very simple (the STATES have regulatory power over insurance right now), and I'm afraid that you just don't realize it...but that's the way the law is RIGHT NOW. Each of the 50 States has their own Insurance Commission, and they make their own rules that apply to the insurance market in that state.