Comments on: The Financial Reform Bill Highlights Need for Real Reform http://www.mint.com/blog/trends/the-financial-reform-bill-highlights-need-for-real-reform/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Sat, 11 Feb 2012 21:46:28 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: BagoLady http://www.mint.com/blog/trends/the-financial-reform-bill-highlights-need-for-real-reform/comment-page-1/#comment-48497 BagoLady Wed, 12 May 2010 01:01:31 +0000 http://www.mint.com/blog/?p=7544#comment-48497 Health Care Reform at its finest. The FEP standards for health insurance coverage go against what what just passed by the president. The FEP Programs side step every regulation passed. They set their own rules as do so many other employers. Employees are left with large gaps in their coverage. They often pay for coverage and receive minimal benefits because the Federal Plans can do this. I believe they should be held to the same standards as any other employer and insurance carrier. I am tired of being cheated as a consumer because these large self insured companies make their own rule, none of which follow any of the mandates that were passed by the President and Congress. The US Government FEP insurance needs to set the standard for the industry not defy the standards and make their own standards. If you have two coverage, even three policies you are paying mega bucks for what exactly when those plans do not want to pay their share? My daughter has 3 policies and I still have outstanding bills to pay. That tells me someone is making big money and cheating the average consumer out of what should be full coverage. I am appalled that the FEP Health Insurance coverage would be one of the policies that neglect to pay for claims when they are secondary yet they continue to collect a full premiums as the secondary carrier. Why do carriers collect full premiums when they are secondary and they know their payment responsibility is minimal? Health Care Reform at its finest. The FEP standards for health insurance coverage go against what what just passed by the president. The FEP Programs side step every regulation passed. They set their own rules as do so many other employers. Employees are left with large gaps in their coverage. They often pay for coverage and receive minimal benefits because the Federal Plans can do this. I believe they should be held to the same standards as any other employer and insurance carrier. I am tired of being cheated as a consumer because these large self insured companies make their own rule, none of which follow any of the mandates that were passed by the President and Congress. The US Government FEP insurance needs to set the standard for the industry not defy the standards and make their own standards. If you have two coverage, even three policies you are paying mega bucks for what exactly when those plans do not want to pay their share? My daughter has 3 policies and I still have outstanding bills to pay. That tells me someone is making big money and cheating the average consumer out of what should be full coverage. I am appalled that the FEP Health Insurance coverage would be one of the policies that neglect to pay for claims when they are secondary yet they continue to collect a full premiums as the secondary carrier. Why do carriers collect full premiums when they are secondary and they know their payment responsibility is minimal? ]]> By: Bob http://www.mint.com/blog/trends/the-financial-reform-bill-highlights-need-for-real-reform/comment-page-1/#comment-43501 Bob Fri, 25 Dec 2009 11:15:36 +0000 http://www.mint.com/blog/?p=7544#comment-43501 Obama's primary goal is to get the USA to a communist form of government as soon as possible. A communist government is where the playing field is leveled. All are equally poor. Obama’s primary goal is to get the USA to a communist form of government as soon as possible. A communist government is where the playing field is leveled. All are equally poor. ]]> By: Nathaniel http://www.mint.com/blog/trends/the-financial-reform-bill-highlights-need-for-real-reform/comment-page-1/#comment-43185 Nathaniel Wed, 16 Dec 2009 06:57:44 +0000 http://www.mint.com/blog/?p=7544#comment-43185 I'd prefer if the politics were kept out — especially since it's obvious that those writing about it are overwhelmingly liberal. Not everybody feels the same way about government regulation. Please stick to the awesome graphs! I’d prefer if the politics were kept out — especially since it’s obvious that those writing about it are overwhelmingly liberal. Not everybody feels the same way about government regulation. Please stick to the awesome graphs! ]]> By: George http://www.mint.com/blog/trends/the-financial-reform-bill-highlights-need-for-real-reform/comment-page-1/#comment-43152 George Tue, 15 Dec 2009 15:35:47 +0000 http://www.mint.com/blog/?p=7544#comment-43152 I think that if the bill does what it is supposed to do, then it is a good thing. Most people don't understand how money works, let alone mortgages. The question is, how much will it protect consumers in practice. The other side of the argument is that it controls companies that do not need to be controlled, at least in a capitalistic society. What does "unfair credit card rate increase" mean? Why is it unfair? Unfair to who? The credit card companies would argue that they are perfectly fair because they customer is made aware of the fact that the company can raise rates. So the fine line that Obama needs to walk is to protect consumers without infringing on the company's right to make money in a legitimate way. Definitely not clear cut. I think that if the bill does what it is supposed to do, then it is a good thing. Most people don’t understand how money works, let alone mortgages. The question is, how much will it protect consumers in practice.

The other side of the argument is that it controls companies that do not need to be controlled, at least in a capitalistic society. What does “unfair credit card rate increase” mean? Why is it unfair? Unfair to who? The credit card companies would argue that they are perfectly fair because they customer is made aware of the fact that the company can raise rates.

So the fine line that Obama needs to walk is to protect consumers without infringing on the company’s right to make money in a legitimate way. Definitely not clear cut.

]]> By: The Truth http://www.mint.com/blog/trends/the-financial-reform-bill-highlights-need-for-real-reform/comment-page-1/#comment-43149 The Truth Tue, 15 Dec 2009 14:22:15 +0000 http://www.mint.com/blog/?p=7544#comment-43149 Good grief... I figured people who were so closely dialed in to the financial world would realize that even more government involvement in this mess would be just like poison. THE GOVERNMENT AND IT'S INVOLVEMENT IN THE WORLD OF BANKING AND FINANCE VIA THE FED IS PRECISELY THE REASON WE ARE IN THIS MESS!! Their unwillingness to let big banks fail when they should have has done nothing except speed us along the road to financial ruin. We will not make it to the end of 2010 without a catastrophic event taking place in our financial system, and you can thank the government for it. Sound fiscal policy is nowhere to be seen in this mess. Good grief… I figured people who were so closely dialed in to the financial world would realize that even more government involvement in this mess would be just like poison. THE GOVERNMENT AND IT’S INVOLVEMENT IN THE WORLD OF BANKING AND FINANCE VIA THE FED IS PRECISELY THE REASON WE ARE IN THIS MESS!! Their unwillingness to let big banks fail when they should have has done nothing except speed us along the road to financial ruin. We will not make it to the end of 2010 without a catastrophic event taking place in our financial system, and you can thank the government for it. Sound fiscal policy is nowhere to be seen in this mess. ]]> By: Sergio http://www.mint.com/blog/trends/the-financial-reform-bill-highlights-need-for-real-reform/comment-page-1/#comment-43146 Sergio Tue, 15 Dec 2009 13:47:23 +0000 http://www.mint.com/blog/?p=7544#comment-43146 Awesome!!! Awesome!!! ]]> By: Carl Folke Henschen Edman http://www.mint.com/blog/trends/the-financial-reform-bill-highlights-need-for-real-reform/comment-page-1/#comment-43131 Carl Folke Henschen Edman Tue, 15 Dec 2009 04:23:10 +0000 http://www.mint.com/blog/?p=7544#comment-43131 Kindly spare us this regurgitation of the political talking ponts of the Obama administration and the left wing of the Democratic party. It is unsuitable for a general-interest finance web site and will turn off the part of your readership which is beyond Mr. Miller's juvenile politics and the sophomoric understanding of finance he displays. Kindly spare us this regurgitation of the political talking ponts of the Obama administration and the left wing of the Democratic party. It is unsuitable for a general-interest finance web site and will turn off the part of your readership which is beyond Mr. Miller’s juvenile politics and the sophomoric understanding of finance he displays. ]]>