On Oct 4, 2011, at 10:46 AM, [email protected] wrote: > Your response is complete and utter bullshit. Did the insurance companies and > bonding agencies go bankrupt after 9/11? No. How about Rita and Katrina? No. > Same for numerous other disasters.
No, because after the clusterfuck that was Hurricane Andrew due to lax regulation of re-insurance operations (where we had giant, 'too big to fail' insurance giants literally having different subsidiaries providing reinsurance protection for each other, robbing Peter to pay Jerry, robbing Jerry to pay Paul, and robbing Paul to pay Peter.) strict new insurance regulations were put in place to prevent that form happening again. Ouytcome of the the big deregulation-fuelled M&A frenzy: <http://books.google.com/books?id=m5M0AAAAIAAJ> and post Andrew: <http://www.heraldtribune.com/article/20100301/article/303019999> NOte the notation 'Florida-only subsidiaries' of the major insurance companies. That's EXACTLY the corporate strategy I mentioned. History...it's a cool, cool subject. You should, like, indulge in it sometime...it might make your rants a little more informed and less 'Rush Regurgiutation of the Day'. -- Bruce Johnson University of Arizona College of Pharmacy Information Technology Group Institutions do not have opinions, merely customs -- You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/stratalist-ot?hl=en.
