Hieroglyphics in the MachineInsurers scramble to decode the various proposals for a federal risk regulator |
The discovery of the Rosetta Stone by a team of Napoleon’s archeologists in 1799 lead to an historical “ah-ha” moment when it was realized that the 196 B.C. tablet was actually the key to cracking the code for the ancient Egyptian hieroglyphics.
Seldom before or since this finding has any such road map miraculously appeared on the scene to translate the seemingly unanswerable.
As proposals for a new systemic risk regulator for “systemically important” nonbanck institutions come to the fore, insurers very probably would welcome the finding of a Rosetta Stone-like device to explain the definition of “systemic risk.”
At issue is the cacophony reverberating in Washington, D.C., as the question of systemic risk gets batted around the Obama administration, Congress and an alphabet soup of government agencies.
To read more on this topic, download the full Best’s Review article below.
Best’s Review: August 2009
Copyrighted A.M. Best Company, Inc. 2009
All Rights Reserved, Reprinted with Permission
Best’s Review: Hieroglyphics in the Machine
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