by John Darer® CLU ChFC MSSC RSP CLTC
New York and California Insurance Commissioners Testify Before Congress About Executive Life
in May 1991 California Insurance Commissioner John Garamendi and Salvatore Curiale, his counterpart at the New York Insurance Department*, testified before a House Ways and Means Sub-Committee on the collapse of Executive Life Insurance Company and Executive Life Insurance Company of New York ( "ELNY").
If you have the time, please watch the following video which originally appeared on C-Span on May 22, 1991. The video may be useful, from its contemporaneous historical perspective, when comparing those digesting current news about the ELNY liquidation. If nothing else, Charlie Rangel, who chaired the sub-committee, looks a hell of a lot better in this video than he did splayed out on a beach chair on the cover of the New York Post.
Note: Salvatore Curiale's testimony begins at 01:10:50 of the video.
* now known as the New York Department of Financial Services
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