Senate Insurance Deregulation Bill From Jon Tester, Mike Johanns Would Benefit Companies

[Laelth]

2. Bad idea years ago. Bad idea now.

Like banks and credit card companies do, all the insurance companies would open a little office in Delaware or South Dakota or whatever state has the most lax insurance regulations, then they would buy the legislature of that state and get whatever new laws they wanted passed, and then the entire industry would be instantly de-regulated. We, the people, would lose the power to regulate said companies through our state insurance commissions. This is a very old idea, and a very bad idea, just as it has been every time it has been proposed.

I am very disappointed in Senator Tester.

-Laelth