"Think of the federal government as a gigantic insurance company (with a sideline business in national defense and homeland security), which does its accounting on a cash basis, only counting premiums and payouts as they go in and out the door. An insurance company with cash accounting . . . is an accident waiting to happen."
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While under secretary of the U.S. Treasury in 2002; frequently short-handed as "an insurance company with an army." {{cite web
https://en.wikiquote.org/wiki/Peter_R._Fisher
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Peter R. Fisher
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