With the government already getting into every other industry–from insurance (AIG), to banking (Citigroup), to auto manufacturing–why shouldn’t the National Association of Insurance Commissioners get into the rating agency business?

“It is being researched now. We have barely started down the road,” NAIC President Roger Sevigny noted this fall.

However, those fearful of having the NAIC delving deeper into their balance sheets and cross-examining them about corporate strategies before issuing potentially devastating ratings should take heart, because nothing happens quickly at this snail-like organization.

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