A Political Discussion

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1. Rob Norton
   

   In 1982 when at Prudential Insurance, Republican deregulation hit our business and allowed us to get a seriies 6 investment license. Two-thirds of the old timer premium collectors didn't like this. However, the company needed to get them all licensed. They brought in a sharp guy to hold a three day class to teach an easy memory program that would help everyone, regardless how interested, pass the series 6 test. 22,000 insurance agents were now "Registered Representitives" Within six years Prudential "Financial Services" was sued by the S.E.C. for $500,000,000. Two years later, for the first time in its long history, our office , as well as offices all over the country were closed. A few years later the company was turned into a stock company. It was, for 120 years, a mutual company owned by policy holders. No more dividends at interest for millions of policyholders. Republican deregulation and phony licensing cost a lot to many dedicated employees and the american public. Sorry republicans, some regulation as well as consumer protection is DEFINITELY NECESSARY !!! Wake up voters !

   January 13, 2012 at 11:47 pm |