Posted by: Cobb County Liberal | June 1, 2009

GaGo10: More Oxendine Shadiness

It seems that every week we get to talk about another shady thing in Oxendine’s past and present.  This week, it’s once again about how if you donate to Oxendine you get to be friends with benefits. From the AJC:

The businessman whose companies funneled $120,000 to Insurance Commissioner John Oxendine’s campaign for governor has chaired a powerful behind-the-scenes insurance board for the past decade — after being appointed and repeatedly reinstated to the post by Oxendine.

This guy, whom we’ve talked about here before, seems to be a real piece of work.  He forks over the dough and Oxendine gives this guy relatively unchecked power.

The association, set up as a safety net for the insurance industry, manages the operations and assets of troubled insurance companies to make sure consumers don’t lose out on their policies.

By state statute, the association can raise millions from insurers, take over assets of troubled insurers and assume policies of failed insurers. As of 2006, the most recent data available, the association reported assets of about $140 million.

None of the meetings of the unpaid board have been open to the public. The board’s minutes and correspondence have not been available for public examination. The association maintains it is not subject to Georgia’s Open Records Act.

Being association chair gives Yancey influence and power within the state’s insurance industry. It gives him access to financial information of troubled insurance companies. It gives him a say in who gets the policies of failed companies and who gets hired to handle insurance liquidations and other matters.

Oxendine and Yancey seem to be bosom buddies.  We need to do everything we can to keep both of these shady crooks out of the governor’s mansion.  We need a politician with some sense of ethics in the governor’s mansion come 2010, not one who will whore himself out to the highest bidder.


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