Insurance

Principles for a Patriotic Bailout Plan

September 24, 2008  ·  Consumer Watchdog

The three-page, $700 billion bailout plan presented to Congress by the Bush Administration last Friday is an appallingly superficial response to years of bad decisions and greed of Wall Street firms empowered by a long-standing, bipartisan...

Mr. Rosenfield goes to Washington

September 24, 2008  ·  Harvey Rosenfield

<p> You have to love Harvey Rosenfield. When he sees a just fight, he rushes headlong into it. That's why Harvey took a plane to Washington DC today to try to stop the $700 billion bank bailout, or at least get something for consumers in the process. </p>

Tempers flare at stem cell subcommittee meeting

September 23, 2008  ·  Consumer Watchdog

Stem Cell <a href="http://www.cirm.ca.gov/faq/pdf/Bio.pdf" target="_blank" rel="noopener">Board Chairman Bob Klein and member Jeff Sheehy</a> clashed heatedly over a former board member's highly paid consultancy to the state agency at a recent meeting of the ...

World Stem Cell Summit Kicks Off in Madison

September 22, 2008  ·  Consumer Watchdog

<p> <strong>The city of Madison, a crucial area for stem cell research, plays host to the 2008 World Stem Cell Summit Monday and Tuesday.</strong>  </p> <p> Consumer Watchdog, formerly known as the Foundation for Taxpayer and Consumer Rights, and the Public Patent Foundation filed an appeal with the U.S. Patent and Trademark Office Friday against its decision to uphold a Wisconsin Alumni Research Foundation stem-cell patent. </p>

So You Think You Have Insurance?

September 21, 2008  ·  Consumer Watchdog

<p> <strong>Preventing Unwarranted Insurance Cancellations</strong> </p> <p> The insurance industry has mounted a fierce lobbying campaign against AB 1945. Jerry Flanagan of Consumer Watchdog, which supports the measure, has counted 35 lobbyists working the halls of the Capitol against it. </p>

NCOIL’s take on AIG and HR5840

September 19, 2008  ·  Consumer Watchdog

<p> The National Conference of Insurance Legislators wrote to Speaker Pelosi about HR 5840 today.  Here's the news release: </p> <p> <strong> For Immediate Release </strong> </p> <p> <strong> NCOIL THANKS SPEAKER...</strong> </p>

House Bill Embroiled In Controversy Over Insurance Regulation

September 19, 2008  ·  Consumer Watchdog

<p> On Sept. 17, Consumer Watchdog, a California-based consumer advocacy group, sent a letter to Kanjorski asking him to withdraw the bill in light of the federal government's $85 billion bailout of AIG, the nation's largest insurer.<br /> </p>

Arnold stands up for taxpayers. Seriously.

September 18, 2008  ·  Judy Dugan

<p> Taxpayers can breathe a sigh of relief, after that look of puzzlement, over the <a href="http://www.sacbee.com/749/story/1248296.html">budget deal that state lawmakers apparently struck with Governor Schwarzenegger</a> tonight. </p> <p> The... </p>

McCain: Fire Cox? Too late

September 18, 2008  ·  Consumer Watchdog

<p> Senator John McCain today <a href="http://www.businessweek.com/election/2008/blog/archives/2008/09/mccain_to_cox_y.html">said SEC Chairman Chris Cox should be fired</a> for falling asleep at the wheel as conditions built towards the current meltdown of the nation's financial markets. Where was Senator McCain (or the rest of the US Senate for that matter) back in 2005... </p>

Harvey’s new blog outs AIG’s Greenberg

September 18, 2008  ·  Harvey Rosenfield

<p> CW's founder Harvey Rosenfield recounts in his <a href="http://www.honestanswers.org/">new blog Honest Answers</a> an interesting conversation not long ago with a retired judge who told Harvey that then-AIG CEO Hank Greenberg was complaining to judges about Harvey and his Prop 103's regulation. Greenberg argued, of course, that the government shouldn't be meddling in AIG's business.  Well, as Harvey points out, yesterday the goverment had to buy out AIG's business to save it and preserve Greenberg's own wealth, which is still tied up in shares of AIG.  </p>

Congress slows down on plan to override state insurance regulation

September 18, 2008  ·  Consumer Watchdog

<p> AIG’s near collapse has at least one silver lining: the US House took HR 5840 (Kanjorski, D-PA) off the floor yesterday. The bill would allow the treasury department to override state regulation of the insurance industry. (... </p>

McCarty to AIG clients: It’s OK

September 18, 2008  ·  Consumer Watchdog

State insurance regulators said Wednesday they are continuing to look into the potential impact in Florida from the financial crisis at insurance giant American International Group (AIG) even as they sought to soothe nervous customers. Still, consumer advocates called for prompt action from regulators to protect consumers. "State insurance regulators must act quickly to ensure that AIG does not raise premiums on drivers and homeowners to make up for the losses from its foray into the world of subprime mortgages," said Carmen Barber, a spokeswoman for California-based Consumer Watchdog.