House Proceeding 03-18-09 on Mar 18th, 2009 :: 1:17:30 to 1:18:00
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1:16:15 to 1:18:30( Edit History Discussion )
Speech By: Bruce Braley

1:17:15 to 1:17:36( Edit History Discussion )

Bruce Braley: and their sole responsibility was to their policyholders. and then we had west saw a lot of blurrin various types of financial services providers. why is that importan well, in this case it's important because insurance companies going way back to the mckarine-ferguson act, had

1:17:37 to 1:17:58( Edit History Discussion )

Bruce Braley: oversight by the federal government. and when you see them providing insurance products branching into other types of financial services and vice versa you get a lot of confusion and then the big push, as my friend from louisville mentioned, is returning profits to shareholders, not providing a conservative return on

1:17:59 to 1:18:20( Edit History Discussion )

Bruce Braley: investments to protect policyholders. and so what happened has continued de-emphasis on deregulation was part of the federal approach to all of these products. we had things going on that were completely beyond the control of the average investor. in fact, these c.e.o.'s testified during the hearing that their understanding of