Political Quotes

Barney Frank: “It is not in our power to tell them not to take a walk. They are a private sector entity. So unless there was to be some…”

On the recordSeptember 27, 2007
It is not in our power to tell them not to take a walk. They are a private sector entity. So unless there was to be some legislative change, there's simply no power, particularly at the Federal level, because insurance has historically been a State issue; but when the gentleman says we shouldn't let them walk away, I might be inclined to agree with that. There's nothing in the Federal Government now that would allow us to stop them from walking away, and our committee is available if anybody has any proposals to increase the role of the Federal Government, and I yield to the gentleman.
Said by
Barney Frank
Democratic · Massachusetts
Source
govinfo.gov

Editor's note · Context

Discussing the limitations of federal power over private sector entities in the context of insurance.

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