President Barack Obama’s plan to create a U.S. insurance office after the $182.5 billion bailout of American International Group Inc. may take
powers from the states that have overseen the industry for more than 135 years.
Obama called for the creation of a federal Office of National Insurance within the Treasury Department to monitor the industry, represent U.S.
interests in international insurance agreements, and look for gaps in state oversight. The proposal was announced this week as part of Obama’s
planned overhaul of the U.S. financial regulatory system.
www.bloomberg.com...
More, and more we see that President's Obama's administration is taking away powers once delegated to the states.
This new U.S. Insurance Office will have to awnser to President Obama only, and through it the Obama administration can oversee, and even veto
decisions made by individual states.
Is this ever going to stop? I think it is too late already to ask the government, and the entire Obama administration to keep their oath to uphold,
and defend the U.S. Constitution. Next thing, they will concentrate more on dismantling the U.S. Constitution itself, and the Bill of Rights within
it.
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