Those of you who are keeping up with all of the intracaticies of the Treasury Department’s proposals for insurance regulation already know that PIA is opposed to what Secretary Paulson has proposed. You also know that there are many individuals and groups that share our views. Now, we are also starting to pick up on some critical reactions in the financial press, which ordinarily might be expected to support Paulson’s plan.

Susan Antilla, a reporter for Bloomberg News, recently published a commentary in which she expressed much skepticism about the Treasury proposals. She notes that the proposal for a new mega-regulator over banking, securities and insurance “sounds good on the surface, but opens an opportunity for brokerage firms to rid themselves of oversight by individual states, who often are the only effective cops on the block.” You can read Antilla’s analysis here.

Wall Street Might Make Hot Air Look Like Change (Bloomberg News 3/27/08)

April 29, 2008