New bill would allow for flexibility in insurance capital rules


The insurance industry finds an ally in Maine Senator Susan Collins who introduces an amendment to Dodd-Frank seeking to clarify new capital rules for nonbank financials.

Insurance companies have made the case they're not banks and already meet state-imposed leverage requirements, and thus shouldn't be subject to the same rules as banks, and the Fed - now a regulator of AIG and PRU, and maybe MET soon as well - has asked for guidance about whether Dodd-Frank allows it leeway.

Not a member of the Senate Banking Committee, Collins testified the Fed does indeed have flexibility and her bill seeks to make that clear.

Related ETFs: KIE, IAK, KBWI, KBWP

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  • Brucejfern
    , contributor
    Comments (1734) | Send Message
     
    This bill will not pass because the members of congress that very much like receiving bribes I mean campaign contributions from AIG, MET, and PRU would not need to give bribes I mean campaign contributions with the same fervor as previously given.

     

    Members of congress are loath to produce laws that actually make economic sense or are purely logical because it does reduce future opportunities for the procurement of bribes I mean campaign contributions from any group that benefits from legislation that either makes economic sense or is purely logical.
    11 Mar 2014, 01:34 PM Reply Like
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