State Insurance Commissioner John Garamendi shocked insurers and business leaders Thursday by recommending workers' compensation insurance rates be slashed by an average of 14.9 percent, nearly triple the number proposed by a key advisory group. Insurance commissioners are such crooks. They regulate, regulate, regulate, make it difficult to do business in the state, and demand rates below what the market will bear.
And the sheep buy it hook, line, and sinker (holy mixed metaphor!) and say, "insurance companies bad, commissioner fighting for me!"
They did that here in Washington during the '90's forcing the State to enact a Hillarycare style system because private insurers fled. Now the Washington Basic Health system is broker than broke and the former Insurance Commissioner who caused this mess is flirting with running for Governor in 04. She would be the darling of the dims if it were not for the fact that another totaly incompetent candidate is in possession of that title, State Attorney General Christine Gregoire. She'll probably win the dim nomination. And the office too, unfortunately. She's a symbol of what happens when you worship at the altar of social promotion.