California Insurance Commissioner Steve Poizner, a Republican candidate for governor, says insurance companies doing business in California have invested $12 billion in Iran's defense, nuclear, energy and banking industries.
That also makes them indirect investors in Iranian-sponsored terrorism.
It's bad enough that the insurance companies gouge us in our premiums, but then to take the profits and invest them in a regime that sponsors terrorism against the United States makes me very angry. Is there nothing insurance companies won't do for a profit?
Poizner revealed the investments today. This is from his Web site:
"It's just wrong for consumers here in California to find out that their hard-earned money that they pay in insurance premiums are propping up the regime in Iran. Iran's ambition to dominate the region under a nuclear umbrella is a very serious threat to this country and to people all over the world."
This is a statement from Poizner's office:
"Poizner said he will urge the companies to voluntarily sell the investments they reported to his office. If they refuse to sell within 120 days, he plans to try to force the divestment so money paid by California policyholders is not flowing to a U.S.-listed state sponsor of terrorism."
Do any of the Dems think this (R) has a good idea here.Personally,I find this outrageous and unacceptable but it's only one in a list of many things that make me think this world is on a collision course with destiny."2012" is just a movie..."Reality" is much more scarier and expensive...It will cost us "Everything".
Obviously this is not right.
Corporations seem to have legally been able to do this otherwise they wouldn't have done it.
Thats what's wrong with corporations, they are not obligated to do what's morally right it's the bottom line that matters.
Brian can you get off your partisan stage coach for a minute and realize corporations in this case are not politically motivated as far as Dems and Reeps are concerned.
Although I think corporations (particularly insurance companies) get unfair treatment in the news media, I totally agree that this wrong and is one of the few instances where government intervention is necessary. In my opinion, this falls under the category of threatening our national defense. Let's not forget to put General Electric in this same boat, as they too have a history of doing business with terrorist regimes. What's worse about GE is that they own NBC, the source of most anti-American propaganda (Olberman/ Maddow/ Matthews) in the media.
I still believe in capitalism, but these corporations give capitalism an unwarranted black eye.
Insurance always turnouts so expensive these days. I am starting to wonder that it might be more affordable not to own it!
So where are the insurance company loving conservatives on this issue. Insurance companies are funding terrorism in Iran and that is ultimately killing Americans. But not a peep out of the so-called patriots on this blog. Why the silence, TC? Why aren't you lecturing us like you usually do, Bart. Why the silence. . . It's 12/04/09 and we are waiting to see how you spin this one. Oh, you can't!
Frank:
Before you scream too loudly maybe you ought to check your retirement portfolios. Other than that I don't pretend to possess the acumen to start battles based on business practices, I do know that investments are made for a purpose. My opinion as a taxpayer is more about preventing couch potatos from getting something for doing nothing, than any particular insurance practice. I know that clients file fraudulent claims all the time, it's amazing some companies can stay in business. Generally I recuse myself from the topic because some of the people I care for most in this world are associated with this service. They are proud of what they do for us who work hard, they are extremely professional and I have nothing bad to say, I'm not even interested. By the way I have called never myself a patriot and nobody has ever called me one of any form. I am a contended person for the most part and will graciously receive any partial compliment I can get..thanks Frank.
Is there not any limits to the lust for profits? Investing in a country that is a sworn enemy of democratic socities boggles the mind. Those insurance companies that invest in Iran should be shamed into divesting and investors should demand so. How dare they plow their profits into a country that sponsors terrorism throughout the world and is responsible for the killing and suffering of millions of innocents. Let the mullahs be damned!
Frank: I was thinking about how poorly the chief job creator is doing. Since democrats elected him, unemployment insurance has been extended how many times? That is probably why we need to insure Iran. Obama isn't doing anything about their obvious aggression, and Hillary is too busy appeasing Palistinians for a 24 hour headline to work on anything substantial. Her answer to middle east questions is limited to forcing the Israeli government to stop the building more settlements, typical Democrat solution worthy of another Nobel Peace Prize I'm sure. Well good luck smarty pants. My guess is when Israeli BOMBS finally make flat glass out of Iranian reactors, these conservative insurance adjusters will deny any loss claim as evidence reveals how close to annhilation we were.
Corporations, like consumers, play the angles. When the Democratic Congress created sub-prime loans in 1977, the mortgage industry knew they regarded them as an edge and scurried to build theire portfolios with them. Auto dealers, who distrust government, played the cash for clunkers edge to move their inventory. Businesses only exist if they generate a profit and are not social service agencies. Be careful what public laws and regulations that are passed because businesses and consumers, who drive prices up via employee and customer retail theft, play the edges. On the other hand, I don't hear many of you complaining about your stock market returns from Iranian reactor investments so shame on you too!
This is depressing. What else will the insurance companies do to real Americans?
I always find that if I phone each insurance company and get an initial quote and get them to email or fax the quote then I can show the quote to other companies and get them to each try to beat the others quote. Insurance companies love to beat each others quotes. This always gets me and my family the lowest quote and much lower then the initial quotes. Try it the next time you phone around for quotes and have all the faxes or emails ready at hand.
6 month CD interest rates are at 0.758 percent, down from the prior week’s average rate of 0.775 percent.
CD Rates...where are you putting your money.I am still looking for a flame proof mattress.