Regarding this threat from insurers on rates....

vi5

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Tue Oct-13-09 06:32 AM
Original message

Regarding this threat from insurers on rates....

...isn't one of the regulations that is being bandied about in these bills the inability to raise rates beyond a certain percentage point or something to that effect? I don't know why I thought I saw something to that effect in several of the many, many, many discussions/posts/articles/threads/etc.

Of course given how cowardly and business beholden our reps and senators are, even if they did put something like that in it would be only limiting them to raising rates by 4,000% every 6 months or something and then trotting themselves around with their chests out crowing about how brave they are standing up for the little guy against big business.

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AndyA

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Tue Oct-13-09 07:14 AM
Response to Original message

1. Yeah, kind of like what they did with the credit card industry regulations.

They put tough regulations on them, but gave them MONTHS to SCREW US OVER before those regulations kicked in. Interest rates went from 4.9% to 24.9%.

Who could have possibly predicted the greedy bastards would do such a thing? :shrug:

Congress needs to get their shit together. They CAN BE REPLACED (and most of them SHOULD BE!)

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Vinnie From Indy

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Tue Oct-13-09 07:42 AM
Response to Reply #1

2. The industry was given months before regs kicked to raise rates on purpose

Congress was in on the scam. It wasn't lack of foresight, it was planned that way from the start.

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