Libertarians love to use the phrase "nanny state" to describe the safety nets of the United States such as Medicare, Social Security, and government spending in general, but are pretty silent about the state coming to bail out the Texas Windstorm Insurance Association. (Many libertarians are the first to fight to be first in line for a government handout)
Rick Perry is now threatening another special session to address the needs of his insurance buddies by providing protection from lawsuits. TWIA is the last resort for windstorm insurance. Many (if not all) insurance companies no longer provide windstorm protection and those that do (USAA) have jacked up their rates.
In 2003 Libertarians got their wish with the Republican controlled Legislature dropping the regulations and oversight of the insurance industry to allow for more competition and lower rates. Texas now has the highest rates in the country with the Bay Area having some of the highest. Rates have skyrocketed and coverage has dropped and yet they need more nanny state protection.
TWIA was sued after Hurricane Ike for non payment of claims and they have been under investigation for fraud. (imagine that) So Rick Perry and his insurance spokesman, State Representative Larry Taylor, have decided that more oversight is needed, not on TWIA, but on the attorneys who sued TWIA on behalf of homeowners. See Off the Kuff.
Yep. One man's nanny state is another man's protection. BTW. Larry Taylor is in the Bahamas while Legislators are working on his nanny state bill to protect his buddies.
Wonder who paid for the Bahama trip?
1 comments:
nanny state.
that sounds funny!
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