Feds investigating Louisiana state-run insurer

Here’s the story from the Times-Picayune.  Here’s an excerpt:

The Property Insurance Association of Louisiana, the agency that runs the state’s homeowners and business insurance program of last resort and the state-run high-risk auto insurance pool, has been subpoenaed to turn records over to a federal grand jury in the wake of a scathing audit that outlined allegations of misspending and questionable expenses, the agency’s attorney confirmed Tuesday.

This is after a state audit found that more than $1 million in expenses were improper or served no public purpose.  My favorite of these was where an agency official used state money to buy up some minor league baseball tickets his cheerleader daugher was supposed to sell for a school fundraiser.  It is never too early to teach your kids that the road ahead will be easiest if they can force someone else to subsidize them. As the saying goes, when you don’t pay your bills, all your overhead becomes profit.

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