One of the thornier issues facing legislators—how to address systemic risk posed by insurers—was grappled with at a hearing held by the House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
In his opening remarks, Subcommittee Chairman, Paul Kanjorski (D - PA), cited American International Group’s use of its holding company structure, and the purchase of a small thrift to choose the Office of Thrift Supervision as its regulator, as ample cause for greater federal oversight.
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