Congress told changes needed in regulations.To the group of insurance executives and industry lobbyists gathered before a Senate panel in mid-November, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Attorney General Eliot Spitzer Eliot Laurence Spitzer (born June 10 1959 ) is an American lawyer, politician and the current Governor of New York. Spitzer was elected governor in the November 2006 election. presented a clear and potentially chilling message: He thinks the insurance industry is fundamentally corrupt, and he's urging the federal government to turn the industry upside Upside The potential dollar amount by which the market or a stock could rise. Notes: This is basically an educated guess on how high a stock could go in the near future. See also: Bull, Downside down. Spitzer, who alleged that the insurance industry was riddled rid·dle 1 tr.v. rid·dled, rid·dling, rid·dles 1. To pierce with numerous holes; perforate: riddle a target with bullets. 2. with corruption when he filed suit against Marsh & McLennan Cos. in October, appeared before a Senate Governmental Affairs subcommittee on Nov. 16, alongside state regulators and industry representatives. Far from moderating his earlier comments, however, Spitzer went on the attack, calling for "fundamental inquiries into the ethics of an industry that needs to be fundamentally scrutinized." |
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