Hi Bob,

On Sun 2037-Mar-22 23:51, Bob Klahn (1:124/311) wrote to Richard Webb:

 RW> IF it's the scale involved, oh well.  LET the angry policy
 RW> holders force the sale of those wonderful buildings with
 RW> the marble halls and flowing fountains.  LEt the angry

BK>  Of course the price would be down, and mortgages hard to get. 

THat's their problem.  THey still get to make up the
shortfall.  OUt of their personal fortunes if nothing else.

 RW> policyholders who got the screws put to them go looking for
 RW> a fat cat to lynch.

BK>  OK, that one I kinda like.

I hold insurance underwriters such as AIG in special
contempt when it comes to shennaigans like this.  AFter all, the poor guy
who bought that policy bought it because he was either required to by law,
or felt that he really needed the protection.

YOu buy the insurance.  You pay your premiums like a good
little citizen, just as you do your taxes.  YOu are cruising along, then
one day, through no fault of your own you now
have a sudden need to file a claim.

  NO money to pay your claim.  yOu always assumed
that the company was going to be profitable, by taking your
premiums, and those of your neighbor, rolling them into
other investments.  YEs you know that something like a
Katrina is going to bite big insurance underwriters hard,
but that's why *they* buy insurance as well.

But you find out these dudes that sold you this snake oil
bought some more snake oil without looking carefully at what was being purchased.

BUt, your insurance carrier wants you to pay the equivalent
of another premium, and the guy down the road who doesn't
even insurance through them to pay one too.


Regards,
           Richard
--- timEd 1.10.y2k+