I can't help but wonder how many of those who back an optional federal charter for insurers and producers might be experiencing the slightest bit of doubt after the gut-churning threats to our economy being debated in Washington this week. The fallout from the subprime debacle–which nearly destroyed AIG (and might yet do so)–was very much on my mind as I moderated a debate today on state versus federal oversight.
Anyone who isnt shaken by the events that rocked the financial markets over the past couple of weeks must have ice water in their veins.
Congress is getting the bums rush to cough up $700 billion to bail out those who shamelessly placed our entire economy at risk with reckless loans, shaky securitizations and worthless financial guarantees.
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