Projects - Videos - 1990s

  • 199x- GOV - Garamendi - Problem Deregulation

Life Insurance

  • 1991 0509 - GOV - Insurance Company Insolvencies - [BonkNote]
  • 1991 0522 - GOV - Executive Life Insurance Failure - Garamendi - [BonkNote]
  • 1991 0612 - Insurance Insolvencies - National Press Club Metzenbaum
    • 18391-1-MP4-STD_01
    • https://www.c-span.org/video/?18391-1/insurance-insolvencies
    • 06:00 -
      •  
      • 25:00 - Metzenbaum's Policy
      • Assumption Reinsurance
      • NAIC - Slow Commissioners, not up to protecting policyholders
      • Anti-trust laws - 
      • Reform State Regulation - 50 states - 50 Laws
      • Life Insurance changed dramatically in the 1980s
      • 28:00 - IDS - 1990 Report - Regulation has not kept pace with new products...
      • Federal Regulation - Solvency, Consumer Disclosure
      • Metzenbaum would be against a federal bailout
      • Savings and Loan Crisis
      • Failure of Regulation vs Failure to Regulate, Reagan, Reporters weren't looking, look at the insurance industry, Nobody knows the industry better than the industry.  There is now a will to act.  <End Opening Statement - 32:00>
    • Q&A
      • Q:  are you overstating impact of Life Insurance Failures - 10%
        • A:  you can't find out information, Insurance Regulators - revolving door
      • 35:00 - Q: PBGC
      • 36:00 - Q: Are crimes being committed by Insurance Companies?  A:  Blue Bonnett
      • 38:00 - Pension Plan Administrators, PBGC, Accountability
      • 39:00 - Accounting Industry - Surplus Relief Notes, Reinsurance
      • 40:00 - Who will pay for more Insurance Regulators? A: Cost / Benefit
      • 41:00 - Banking and Insurance industries are suffering from bad investments from the 1980s?  What about putting Banking and Insurance Companies under a Holding Company Structures?
      • 42:30 - Q: Why did you buy an Executive Life Policy? A:  Stupidity. I relied on the Insurance Salesman.  It was a rather significant amount.
      • 44:00 - <Q: Military cost - Not related to Insurance>
  • U - 1991 0724 - Insurance Insolvencies
    • program.14011.MP4-M20
    • Olga Pegelow - Chicago, IL
    • https://www.c-span.org/video/?19725-1/insurance-insolvencies
    • Marcia Horton - ACLI / Lincoln National Life Insurance Company - Vice President - Government Relations
    • Bert McKasy -Commissioner- Minnesota
    • Olga Pegelow - Chicago, IL - Policyholder
    • Eden Sarfaty - President - National Org. Life Health Ins. Guaranty (NOLHGA)

Other

  • Bank Industry Restructuring
    • program.12230.MP4-M20
    • https://www.c-span.org/video/?17687-1/bank-industry-restructuring

    • 01:32:30 - SEN. KERRY

      • Likewise, life insurance companies because of the huge growth of the guaranteed investment contracts have liabilities with an average duration of about years. Yet, they're even more heavily invested in long-term mortgages and real estate equities.

    • 1:38 - Greenspan
      • ALM Mismatch
  • Opportunities and Remedies for U.S. Finance - [VIDEO-CSPAN] 
    • 8:00 - Guaranty Funds, Marty Leary - Economist Southern Finance Project
  • 1995 0606/08- GOV - Financial Services Competitiveness Act of 1995, aka 1995 0606 Financial Services Regulation - HR 1062
    • program.50778.MP4-M20
    • [PDF-329p-GooglePlay, 0606-VIDEO-CSPAN] ->not on govinfo.org
    • 00:12:00 - Markey (MA) - Holding Company is where you put the money when the cops show up.
    • Gary Hughes (ACLI) - 2nd Panel
      • 2:14-2:20 : Opening Statement
      • 2:26- : 3 legs, OCC, Insurance Neutrality, Silence vs Affirmative Statement, Insurance Industry left on the side of the road? Mind your knitting, Credit Quality - Can't legislate that misperception away. <AIG kind of>
      • 2:31-2:33 - Annuities - no more mischief, insurance sales vs underwriting, 
      • Dingell - poor polish lawyer
      • 2:37 - 
      • 2:38 - Regulators can constrain company activities
      • Cox / Hughes - Role of Agents . Clever person, you'll find another job
      • 2:4 -2:47:40 - Ganske (IA) / Hughes - 
      • 2:47-2:51:30 - Stearns (FL) / Hughes - Amendments, Future Products, Definitions: Business of Banking, Business of Insurance, overreach, States - What is insurance?
      • 2:51:30 - Oxley -Town of 5,000 Exemption. Hughes - Issue for Insurance Agents, not Insurance Companies
    • Martin Meyer (Brookings Institution) - 3rd Panel
    • Greenspan (FRB), Levitt (SEC), Williams (OCC)