[Cross-posted from RedCounty.com]
Insurance Commissioner Steve Poizner is hell-bent on convincing Republican primary voters that he is a real conservative — which makes the contrast with his assault on insurance companies that may have even indirect investments in Iran all the more jarring, because he is laying the groundwork for social engineering by Democratic successors of the kind that set conservative teeth on edge.
I first reported on this back on December 2, when Poizner was threatening insurance companies to "voluntarily" divest themselves of $12 billion in indirect investments — and if the didn’t volunteer, he’d force them.
As I commented at the time, this reeks of campaign posturing and is the kind of gratuitous, publicity-seeking corporate bashing I would expect from a Democrat:
National security is a job for the federal government, not state insurance commissioners. If policy holders object to the possibility their payments might wind up being indirectly invested in Iran, they can choose an insurance carrier that meets that desire. It’s called the free market. This outburst of opportunism undercuts Poizner’s "I’m the most conservative" campaign. Attempting to force private companies into adopting a specific political agenda is something best left to Democrats — they think it is a good thing and like doing it.
At a news conference yesterday, Poizner backed off a bit…but only in practice, not in principle. As the San Francisco Chronicle reported:
Poizner, who is seeking the Republican nomination to be governor, sent a letter to California’s insurers Wednesday giving them until March 31 to divest their indirect Iranian investments and agree not to make future investments.
If they do not comply, Poizner said, the department would not give them credit for their investments in these companies. State law requires insurers to keep a certain level of capital in order to be licensed to sell insurance in California.
The issue here is not the nature of the Iranian regime, which is clearly evil. But Poizner’s posturing will have zero effect on Tehran’s nuclear ambitions.
You can read the rest on RedCounty.com