AIA Commends Blue Dog Coalition on Creation of Capital Markets Task Force
August 7, 2007
Gov. Marc Racicot, president of the American Insurance Association (AIA), today issued a statement commending the Democratic Blue Dog Coalition on establishing an Innovation, Capital Markets, and Financial Services Task Force that is to be co-chaired by Rep. Tim Mahoney and Rep. Dennis Moore.
The task force will be focused on improving and encouraging innovation and job growth through effective public/private partnerships and efficient regulation.
Below is Gov. Racicot’s statement:
“Today’s action by the Blue Dog Coalition is an encouraging development and a positive sign for the capital markets’ community. The sharpened focus on improving the competitiveness of the financial services industry on the part of Congress, the Administration, and the academic community is a clear signal that we must enact policies that enhance efficiencies and address the core issues in today’s global economy – capital market competitiveness, innovation, and regulation.
“We in the business community share in the Blue Dog’s efforts to make the U.S. capital markets and financial services industry the most innovative, efficient, and competitive in the world.
“We also note that Rep. Melissa Bean is an important member of the task who has taken a leadership role in the U.S. House of Representatives, along side Rep. Ed Royce, in advocating comprehensive reform of the insurance regulatory system through an optional federal charter (OFC). We believe that OFC is a critically important issue that the task force should consider as it reviews the state of capital markets’ competitiveness.
“We look forward to working with the members of the task force in the coming months.”