I'm a "Main Street" insurance broker for many years and I am utterly pained with this whole situation. The State Insurance Departments would revoke my license if I "bounced" a $50 check!! The SEC and NY State Insurance Department are a joke. And to anyone who ever files a claim and gets "nickeled and dimed" remember this disgusting episode.
That's my point, The NY State Ins. Dept. should invoke proceedings to revoke their license and the AG should inact proceedings for criminal indictments, rather than settle for civil fines as he did with the Wall St. firms, afterall fines are merely a "cost of doing business" let these people go to jail!!