Ilya Marritz covers business for WNYC.
'These companies are very important customers for Wall Street, for banks. They are the major buyers of bonds, of stocks, of real estate, and if they're not there in a position to buy, then the Obama Administration's goal for getting the private sector involved in cleaning up the banking sector by buying toxic assets, it's not gonna work without the insurance companies helping.'
All is intertwined. Bewilderingly, worryingly intertwined.
Listen: Financial 411 - Life Insurance Needs a Lifeboat