Kanjorski Calls for Federal Regulation on Eve of Obama Plan

U.S. Rep. Paul Kanjorski, D-Pa., one of the chief architects of the blueprint being drafted for financial regulatory reform, on Tuesday called for the federal regulation of specific lines of insurance and for oversight of carriers that pose a major risk to the system.Kanjorski, chairman of the U.S. House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, repeated complaints at a committee hearing Tuesday that the Obama administration has said little about its plans for the insurance industry.Both he and the subcommittee's ranking member, U.S. Rep. Scott Garret...