House Proceeding 05-21-09 on May 21st, 2009 :: 2:22:55 to 2:24:24
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2:22:51 to 2:23:15( Edit History Discussion )

Jim McDermott: gentlelady for yielding back. on with us for a little while longer. the gentleman from washington. mr. mcdermott: representative lee raised the question of profits for insurance companies. between 2000 and 2007 the insurance company's profits

2:22:55 to 2:24:24( Edit History Discussion )
Speech By: Jim McDermott

2:23:16 to 2:23:36( Edit History Discussion )

Jim McDermott: went from 2.4 billion to $12.9 billion. mr. ellison: could you repeat that mr. mcdermott: 2.4 billion dollars to $12.9 billion. that's an increase of 428%. you're going to see abs on

2:23:37 to 2:23:59( Edit History Discussion )

Jim McDermott: television saying oh, this government sthopings worst thing that's happened to this country and we need to save the poor, struggling insurance companies. just remember those figures. the average salary of the collective salary are of the executives, the c.e.o.'s, is $118 million. that's an average of $11.9

2:24:00 to 2:24:21( Edit History Discussion )

Jim McDermott: million apiece. now if you're running an insurance company and you're making $11.9 million, what do you think your real interest is in taking care of people. your interest is in getting as much money as you can, give it

2:24:22 to 2:24:25( Edit History Discussion )

Jim McDermott: to the stockholders and keep it for yourself. that's why we have to have a