2017 0328 - GOV (House) - The Arbitrary and Inconsistent Non-Bank SIFI Designation Process
- 2017 0328 - GOV (House) - The Arbitrary and Inconsistent Non-Bank SIFI Designation Process, Ann Wagner (R-MO) --- [BonkNote]
- [PDF-83p, VIDEO-YouTube]
- 2017 0228 - GOV (House Report) - Report Prepared by The Republican Staff of the Committee on Financial Services, U.S. House of Representatives - 60p
- Holtz-Eakin, Douglas, President, American Action Forum
- Kupiec, Paul H., Resident Scholar, American Enterprise Institute
- Pollock, Alex J., Distinguished Senior Fellow, R Street Institute
- Zaring, David, Associate Professor, Legal Studies and Business Ethics, The Wharton School, University of Pennsylvania
- House - Committee on Financial Services - Subcommitte on Oversight and Investigation
- (p28) - Dennis Ross (R-FL): And yet, in the assessment of the SIFI designations, there are two experts, one a voting member in the insurance industry or arena, and two a nonvoting member, both of whom were ignored by the designations with regard to whether these insurance companies should be considered a SIFI.
- (p29) - Dennis ROSS (R-FL). ...has there ever been a run on an insurance company in the history of the United States?
- Doug HOLTZ-EAKIN (President, American Action Forum)
- No.
- One of the mysteries of this designation has been ignoring the history of successful regulation of insurance companies...
- (p66) - ACLI - American Council of Life Insurers statement - FSOC's reliance on an inappropriate and unrealistic bank-like "run" scenario on insurance products as the trigger of an insurer's financial distress or cause of systemic risk illustrates its bank-centric mindset for considering insurance firm designations.