Sunday, February 28, 2010

Credit Cards, Chickens & Insurance Reform

The other day, I was participating in a liveblog of the Health Care Summit, when I realized that a good example of the pitfalls the President kept referring to in regards to allowing cross-border insurance purchases was the credit card industry and how it's now concentrated in South Dakota, so I tossed-in a quick comment with a link to one of my older posts about this phenomenon.

After the summit, I took a few minutes to link an article that I had been saving about how the new federal credit card regulations are expected to affect the industry in the least regulated state, but hadn't gotten around to blogging, so I added it to the old post without any comment.

Add to all this another article which has been in my queue, detailing some of the preparations Idaho is considering and Nevada's active courtship of the egg industry, all because tighter regulations will soon take effect in California and they both would like a piece of the pie.

Because every state is different and some may be more willing to bend to satisfy a short-term economic need, it's kind of easy to see why if cross-border insurance purchases are allowed and there's no minimum federal standard, the White House fears a "race to the bottom".
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