So...you know how there's the USOC (U.S. Olympic Committee)? It oversees everything from athlete welfare to security installs when Olympics are held in "The Evil Countries". The AIA is kinda that...but for the insurance industry.
The organization is kind of the bomb in representing huge volumes of premium writing and is the friendly "we all love the insurance industry" feelgood place where industrywide issues go to be kibitzed. It lobbies. It represents interests with judges. It tries to be visionary, looking collectively into the insurance needs of the future. Good intentions. Boring name.
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Finance: What are the economics of gover...3 Views
Finance allah shmoop what are the economics of government lobbying
Pay lobbyist a siri's of consulting fees They don't make
a commission hope that they can tilt the balance of
loved in your direction And then you win a lucrative
government contract to buy weapons from you Like the self
guided tickle rocket you know that makes enemies laugh themselves
to death art least does some nasty stomach cramps Yeah
all right well then you lather you rinse and you
repeat So what is a lobbyist anyway Well the term
got its name from would be friends of congressmen and
friends of senators and friends of other politicos who would
stand around literally in the lobby of the halls of
government waiting for a mucky muck muck to come out
And for ninety eight seconds while they were walking down
the hall you know to take a much needed whizz
have their ear chewed off about money needed for a
new tattoo removal program or a grant for the montana
sheep workaholics anonymous initiative or for a new motorized shoe
rack for the first lady custom designed by tesla itself
a tickle weapon builder wants the government to buy a
billion bucks worth of tickle bombs from them tio use
as an epic april fool's joke on our canadian kyle's
up north there cost to build five hundred mil so
they make half a billion dollars in operating profits from
this sale Well how much can they afford to pay
the lobbyist A k a the sales guy who will
make that deal possible Answer a lot like maybe four
hundred ninety nine million dollars and they don't actually pay
him a commission that would be illegal These air just
set up as consulting contracts to you know leverage his
role attacks and all the people that lobbyists knew for
years and years and years So it is massively worth
a while for the tickle weapon producer to pay a
lobbyist or ten of them a million bucks a year
in consulting fees so that you know the company wins
that lucrative government contract and closes the deal and it
doesn't just apply to a weapons manufacturers that old age
home congresswoman promised her village Yeah well what's to stop
her leaning on the weapons producer to donate a bunch
of money to building it if the weapons producer wins
That lucrative tickle bomb contract Well maybe call it tickle
pines geriatric center with a happy face painted on the
tickle bomb says peace under it Yeah something like that
and the politician muses And while the bombs are going
to get made anyway the contract will happen anyway At
least this way my granny's will have nice massage chairs
and a place to die with dignity and not from
being tickled to death Welcome to lobby Come on down 00:02:43.205 --> [endTime] take a hot shower
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A self-regulatory organization (SRO) is an organization that lives outside the control of the legislative bodies behind it... and it's more effective.