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November 16, 2004

Congress Probes Insurance Industry Scandal

Congress is examining the scandal rippling through the insurance industry, with its largest brokerage accused of bid rigging and price fixing amid high-level resignations, employee layoffs and guilty pleas by some executives.

New York Attorney General Eliot Spitzer launched an investigation on Oct. 14, the latest in a series of high-profile probes he conducted of key financial industries, including Wall Street investment firms and mutual fund companies.

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Posted by Tom Troceen