Tom Hargrave wrote:
Possibly, possibly not, but what would have happened to our economy and the spending value of YOUR DOLLAR if they had been allowed to fail?
Less damage than was done by 'saving' them, that's the only thing that's truly certain here. The simple way to save them from their own stupidity would have been to declare the insurance invalid if bought by a company that had no insurable interest. Much like it would already be invalid for me to buy life insurance on Tom with myself as beneficiary. We're feeding hundreds of billions to AIG to pay off claims on insurance that was passed off as 'not insurance', and much of it was sold to companies which had no insurable interest, who then orchestrated the failure so the insurance would pay off.
Let's say I bought a thousand insurance policies on Tom's home, each for 1/2 million dollars. Then let's say I found a legal way to make Tom's home burn down so I could make 1/2 Billion. If the insurance company could not pay off, do we need the taxpayers to pay me?
Mitch. _______________________________________ http://www.okiebenz.com For new and used parts go to www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
