Nbadan
05-03-2005, 12:10 PM
N.Y. attorney general criticizes Bush administration for not exposing insurance industry scandals.
SEATTLE (Reuters) - New York Attorney General Eliot Spitzer, who is running for state governor in 2006, criticized President Bush's administration Monday for failing to expose illegal practices in the U.S. insurance industry.
Spitzer, who spoke to the Society of Business Editors and Writers, discussed his insurance industry investigation and other ongoing probes, including examinations of the home mortgage industry and executive compensation.
He said that despite 10 insurance industry executives having pled guilty to fraud charges and having paid more than a billion dollars in restitution, "not a word has come out of the White House about maybe there being a structural problem in the insurance industry.
"This is an industry that does drive pricing in many sectors," Spitzer told reporters. "Insurance is integral to what we do."
...more...
CNN.com (http://money.cnn.com/2005/05/03/news/newsmakers/spitzer.reut/index.htm)
Next to financial advisors, whom the Bush adminstration would love to give a portion of your retirement money to with his 'pritivization plan', there is no greater thief than a insurance salesmen.
SEATTLE (Reuters) - New York Attorney General Eliot Spitzer, who is running for state governor in 2006, criticized President Bush's administration Monday for failing to expose illegal practices in the U.S. insurance industry.
Spitzer, who spoke to the Society of Business Editors and Writers, discussed his insurance industry investigation and other ongoing probes, including examinations of the home mortgage industry and executive compensation.
He said that despite 10 insurance industry executives having pled guilty to fraud charges and having paid more than a billion dollars in restitution, "not a word has come out of the White House about maybe there being a structural problem in the insurance industry.
"This is an industry that does drive pricing in many sectors," Spitzer told reporters. "Insurance is integral to what we do."
...more...
CNN.com (http://money.cnn.com/2005/05/03/news/newsmakers/spitzer.reut/index.htm)
Next to financial advisors, whom the Bush adminstration would love to give a portion of your retirement money to with his 'pritivization plan', there is no greater thief than a insurance salesmen.