Insurance News

Posts Tagged ‘Needed

WASHINGTON—The issue of federal insurance regulation no longer can be swept “under the rug,” an influential congressman said during a Tuesday hearing on Capitol Hill.

Noting that the Obama administration is expected to unveil its plan to enhance government oversight of financial markets on Wednesday, “it also appears likely that we will soon consider reforms aimed at mitigating systemic risk,” Rep. Paul E. Kanjorski, D-Pa., chairman Read the rest of this entry »

WASHINGTON — Treasury Secretary Timothy Geithner said the federal government might remove top bank executives or board members if “exceptional” assistance is required to keep the banks operating in the future.

“When in the future — or I would say, if in the future — banks need exceptional assistance in order to get through this, then we’ll make sure that assistance comes with conditions, not just to protect the taxpayer, but to make Read the rest of this entry »