Quote:
Originally Posted by samcol
From this it sounds like they knew they were going to be bailed out years before they actually did. How else could they even operate for any significant amount of time like this? Something tells me this whole mess was a long time coming, and unlike you I think most people who dealt with this day to day knew.
|
Unlike a casino where they must have enough cash to cover all the chips that are out on the floor in case they are all cashed in at the same time, it appears to me that Insurance doesn't operate like that.
From what I understand there is a risk that a percentage of claims will be made and that never or rarely will the risk equal the entire holdings of the company.
Is that a correct assesment?
__________________
I don't care if you are black, white, purple, green, Chinese, Japanese, Korean, hippie, cop, bum, admin, user, English, Irish, French, Catholic, Protestant, Jewish, Buddhist, Muslim, indian, cowboy, tall, short, fat, skinny, emo, punk, mod, rocker, straight, gay, lesbian, jock, nerd, geek, Democrat, Republican, Libertarian, Independent, driver, pedestrian, or bicyclist, either you're an asshole or you're not.
|