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Form 10-Q PROGRESSIVE CORP/OH/ For: Sep 30
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PROGRESSIVE CORP/OH/ - 10-Q - MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - Insurance News
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people, that might threaten the financial stability that we have worked so hard and poured so much money into to make sure we shore that up. you not only have the revolving door which always existed, maybe worse than it was. you have this idea we really have to treat them with kid gloves because we might wreck the financial system. there s something really perverse about that. we allow the financial system to wreck us, because it s easier to do that and we don t have the political representation the financial system does. and the financial system, remember, over 7,000 banks in the country. talking about a really small group of extremely large banks that have become today s equivalent of fannie and freddie, government sponsored entity, the implicit back upof the government and concerns about prosecuting those institutions. after all, if we were do go after them and the institutions ended up in trouble that would be the taxpayer on the hook