On the recordFebruary 9, 2009
Given the critical role of insurers in enabling credit transactions... do you believe that we can undertake serious market reform without establishing Federal regulation of the insurance industry.
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congress.govGiven the critical role of insurers in enabling credit transactions... do you believe that we can undertake serious market reform without establishing Federal regulation of the insurance industry.
Geithner questions the feasibility of market reform without federal insurance regulation.
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Those--the cuts are designed to starve those agencies of the ability--deny them the ability to enforce a set of basic, sensible protections for consumers and investors.
We're going to establish a level playing field across banks and nonbanks so that the business can't just shift to where there's no regulation.
It would raise, dramatically, the borrowing cost, permanently, for all Americans.