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October 24, 2017

Insurance Lobbyists Broke News about A.I.G. Deregulation Before Trump Administration

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Late last month, without much fanfare, financial regulators voted to relax rules on AIG, the insurance giant synonymous with last decade’s global financial meltdown. The process was done in such hushed tones, according to Democratic Senators, that the decision was first revealed not by the inter-agency body that made it–the Financial Stability Oversight Council (FSOC)–but by an industry trade association. “The timing…indicates that insurance industry representatives and others individuals learned of the decision to de-designate AIG before it was announced publicly,” Sens. Elizabeth Warren (D-Mass.)…

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Climate Change Poised to Kill People, Break Industries, and Budgets, GAO Warns

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The US government has incurred hundreds of billions of dollars in costs associated with climate change, and damages will increase significantly in the future, according to a new watchdog report. In a study published Tuesday, the Government Accountability Office (GAO) attempted to measure, for the first time, the economic and budgeting consequences of rising temperatures and extreme weather phenomenon. It found staggering cost increases over the next century in several economic sectors, including healthcare, which could take a half trillion-dollar hit due to more heat-related…

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