Sen. John McCain buried Rudy Giulianis presidential hopes in Florida last night, despite the winners adamant opposition and the losers vocal support on whether to establish a national catastrophe fund. What does the primary vote mean for cat fund backers? Vote Democratic!
If Sen. McCain is elected President, Florida, Louisiana, California and other states vulnerable to massive windstorm or earthquake losses can forget about seeing the cat fund idea being pushed by Allstate and its lobbyist, ProtectingAmerica.org, ever coming to fruition.
Rudy ran hard on the idea of establishing a national cat fund to back up state property insurance facilities, even though he claims to be against government intrusion into the private market. For example, despite the fact that some 50 million Americans lack health insurance, while tens of millions of others struggle to make premium or co-payments, Rudy mocks calls for a national health insurance system. Yet he saw no contradiction in calling for a national catastrophe insurance fund.
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