Critics see bias in turf fight

[kweerwolf]

When Missouri’s securities regulators went after investment adviser Waddell & Reed for misleading elderly investors, Republican Gov. Matt Blunt’s administration tried to block the enforcement action.

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The irony of the Insurance Department’s action is that when Blunt oversaw securities regulation as Missouri’s secretary of state from 2001 to 2004, he said the Insurance Department was ill-equipped to regulate such investments, known as variable annuities.

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This year, the secretary of state’s office is headed by Democrat Robin Carnahan, and Blunt, as governor, is committed to reducing the regulatory load on business.

Democrats and some independent analysts cite the turf battle between the Insurance Department and the secretary of state’s Securities Division as another example of the Blunt administration favoring business over consumers.

http://www.kansascity.com/mld/kansascity/12502737.htm

Like we need any more proof Skippy Blunt's administration favors business over consumers. :eyes: