Kennedy's Senate Replacement Rewarded Insurance CEO for Fraud

When Massachusetts Gov. Deval Patrick appointed Paul Kirk, former chairman of the Democratic National Committee, to temporarily fill the Senate seat left open by the death of health-care reform advocate Sen. Ted Kennedy, D-Mass., the appointment hardly made news. It was simply a political appointment made to assure full representation for the people of Massachusetts until a special election could be run -- at a moment when Democrats need every vote they can muster in order to pass a health-care reform bill.


But Kirk is a curious choice to fill the shoes of a reformer, reports Kevin Connor at the blog Eyes on the Ties, given his role on the board of The Hartford, an insurance giant that settled for $20 million in fines and restitution to defrauded clients for "deception" in the sale of retirement products discovered in an investigation by the States of New York and Connecticut. Seems The Hartford was making payoffs to insurance brokers to push their retirement products.

Kirk not only sat on The Hartford's board at the time, but also on the board committee that determines executive compensation. Hartford CEO Raymani Ayer received compensation -- including the value of his stock shares -- in excess of the $20 million the Hartford paid to settle the fraud claims against it.

As Kirk prepares to cast his votes on health-care and financial-sector, whose interests will he have at heart?

#story_page_post_article

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ post.roar_specific_data.api_data.analytics }}

Happy Holidays!