g5000
Diamond Member
- Nov 26, 2011
- 125,228
- 68,948
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You said, "Congress doesn't 'write' the regulations". In fact, they do write regulations.Just to show how wrong you are, here is Section 531 of Dodd-Frank:
531.
Regulation of credit for reinsurance and reinsurance agreements
(a)
Credit for reinsurance
If the State of domicile of a ceding insurer is an NAIC-accredited State, or has financial solvency requirements substantially similar to the requirements necessary for NAIC accreditation, and recognizes credit for reinsurance for the insurer’s ceded risk, then no other State may deny such credit for reinsurance
This is a classic example of a federal pre-emption, by the way.
Just to show you how disingenuous you are.
Nightfox said:laws from which the regulations are derived, un-elected bureaucrats in the Executive Branch write the vast preponderance of new regulations.
Run along now......
"Be bad, but at least don't be a liar, a deceiver!" -- Leo Tolstoy
As for the rest, I have frequently pointed out to the rubes who foam at the mouth over EOs that the Executive is given a great deal of latitude over regulations.