Poizner Sues The Governor – Some Q&A
Yesterday Insurance Commissioner Steve Poizner announced that he was filing a lawsuit against Governor Schwarzenegger’s Administration over a provision enacted in the July budget deal that would stop an illegal state raid of $1 billion in assets in the State Compensation Insurance Fund. Sound a bit confusing? I reached out to Poizner for some Q&A to walk FR readers through what the Commish is up to…
FlashReport: Can you explain the lawsuit you’re filing against the Schwarzenegger administration? Poizner I am filing a lawsuit today to stop the state’s planned $1 billion of State Compensation Insurance Fund (SCIF) assets. The $1 billion transaction was authorized in the July state budget revision passed by the legislature and signed by the Governor. FR: What is SCIF? … Read More