Bob and Others, The ability of banks to sell insurance comes from a 1996 U.S.Supreme Court Ruling that allows Nationally-Chartered Banks to Sell Insurance from Small Towns Even When State Law Purports to Prohibit it. A Link on the Barnett decision http://baltimore.bizjournals.com/baltimore/stories/1996/11/11/newscolumn5.ht ml
The ruling goes on to say Section 92 of the National Bank Act authorized small-town (less than 5000) to sell insurance to "persons outside of those towns" More links follow http://www.bizjournals.com/denver/stories/1997/03/03/story3.html http://baltimore.bizjournals.com/baltimore/stories/1996/11/11/newscolumn5.ht ml http://techupdate.zdnet.com/techupdate/stories/main/0,14179,2901496,00.html To be continued------ Paul Double -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Bob Sebo Sent: Tuesday, October 28, 2003 4:16 PM Paul crafts his arguments well when discussing this medicharge proposal...but I don't think that we change the world quite that easily. And while he suggests that a consumer (Winona) could create a model...I think he is wrong. He is right, I believe, that providers are sick and tired of insurance-as-we-know-it. How such a system would protect "them from litigation of price fixing, market collusion and treble damages," I don't quite see. I am also surprised that another of his 'predictions' has not come true...that of the entry of the Wells Fargos of this world into insurance, or at least into funding health care. Are the old 1930's bank laws still too strict too allow for it? Must be...the wall into investing has been broken, but not apparently insurance. His contention that the federal and state governments could work within this framework, I think, is entirely right. It could all work...he is right...but it won't because the insurance providers are too influential. What would their role be? Do you know how many people work in that industry? Do you know how much money these people have? We're talking revolutionary change. Which is why I've always adovated for single payer...not that I believe in it (I opt to pay more for what I consider better coverage)...but that it's enough to scare the health insurance industry into sitting down at the table and start talking (shock and awe). That's the only way reform will occur...with them, not against them. Bob Sebo Winona
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