Who Will Be The Hammer?

There's an old adage in Washington which says the two biggest myths in American politics are that Republicans believe in limited government and Democrats are compassionate.

Reps. Mike Oxley, R-Ohio, and Richard Baker, R-La., are doing their best to counter at least half of that sentiment by proposing federally mandated standards for insurance regulation without creating a federal bureaucracy.

While details of the regulatory scheme were not revealed during a House Financial Services Committee hearing on regulatory reform last week (see story on page 7), there is already a lot of talk about whether they can pull this off.

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