Michigan is obviously a playground for Pickpocket,politicians,preachers, and now Insurance executives ! I wonder where Grandholmn and her cronies were when the Blue Cross Run for our Pockets Began !

I watched this interview and if body language exists the Yuppies from Blue Cross are artfull dodgers !  At Least Mike Cox is awake !

Contact:  John Sellek, Media Contact 517-373-8060
Agency: Attorney General

December 9, 2008

LANSING – Attorney General Mike Cox today called on the legislature to immediately stop Blue Cross Blue Shield of Michigan’s controversial legislation after Blue Cross officials publicly admitted they wrongly included a $210 million pension accounting adjustment in their loss projection for 2010, bringing all Blue Cross financial data into question.

“By Blue Cross’ own admission, its claims of huge, immediate losses are false,” said Cox.  “These statements prove beyond a doubt that the legislature must hold these bills until after the current state audit is completed.  Only then will we know the truth about Blue Cross’ finances.”

Based on its claims of quickly mounting losses, Blue Cross is demanding drastic legislative changes which would benefit its bottom line.  However, officials from Blue Cross admitted to the Lansing State Journal editorial board today that mistakes were made in deciding when and how a $210 million change in the way they account for their pension liabilities needs to be included in their loss projections.

This means that instead of a projected $208 million loss in 2010, they could project a $2 million profit.

“Today’s admission confirms my concerns that Blue Cross is either unable or unwilling to provide accurate financial data before this legislation is voted on,” Cox said.  “Either way, it is clear that this legislation should be stopped until the audit is complete.”

The interview can be seen at: http://www.lansingstatejournal.com/

Todays Tabbloid tabbloid_2008-12-15_1000

WILSON: Early Christmas for Blue Cross? || WXYZ.com | WXYZ-TV / Detroit | Detroit News, Weather, Sports and More.

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