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Spitzer3In a development sure to send shock waves throughout the insurance industry, President Barack Obama today named New York’s disgraced former governor and attorney general, Eliot Spitzer, as his new “Czar” to implement health care reform.

“I cannot think of anyone more qualified to see to it that all the promises of our new health care reform legislation are kept to the millions of Americans without insurance today, and who could find themselves without coverage tomorrow should they lose their job, or have to choose between paying health premiums or their mortgage,” President Obama said this morning in a Rose Garden ceremony.

“Mr. Spitzer has had his personal difficulties, but this is a forgiving nation, and I am confident he will discharge his new responsibilities with honor, integrity and the single-mindedness required to overcome all of the resistance our reform law is likely to meet–particularly within the insurance industry,” President Obama added.

Mr. Spitzer–once known as “The Sheriff of Wall Street,” and whose probes exposed bid-rigging and contingency fee abuse among major insurance carriers and brokers–thanked President Obama for “giving me the opportunity to not only redeem myself, but to bring health insurance to everyone in this country who needs it.”

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