Obama’s Insurance Proposal May Grab Power From States

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.

reply to post by ElectricUniverse


Exactly, it's obvious that Obama wants total control of the US economy in his hands and he never ran a lemonade stand, let alone a business.

This is socialist/fascist and he's doing it in broad daylight.

He has more czars than the Romanovs. He controlling advertising budgets of private auto companies and he wants to control executive pay. He wants to control the health care system.

Chavez was right when he said Obama will make him and Castro look like their on the right.

I knew this would occur because Obama is an ideologue that just tries to talk like a moderate. He hangs around radical leftist but claims he doesn't agree with them.

You don't stay in a Church that long and be that close with the Pastor and not agree with him on many issues. He also has Ayers and others. There's a reason Obama was the most liberal Senator.