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Congressman Souder Says Insurer In Danger Of Collapse
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According to reports from Bloomberg, Republican Congressman Mark Souder said he met with the representatives of an insurance company in danger of going under because of investment losses.
NOTE: Senator Majority Leader Harry Reid made similar comments last week, but later retracted those comments with some saying he got his facts confused with the AIG (NYSE: AIG) bailout. Major insurance companies MetLife (NYSE: MET), Hartford Financial Services (NYSE: HIG) and Prudential Financial Inc. (NYSE: PRU) all fell on the Reid comments. MetLife commented directly on the Reid comments saying it was financially sound and Hartford Financial announced a large investment from Allianz yesterday.
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