Posted On: January 15, 2007, 1:25 pm CST

Posted By: How Much Did He Pay?

The Insurance Journal does it again - leave out just enough information from a nationally publicized article - About a bazillion hits on Google show the entire article states:

"Wynn said he purchased the painting depicting Picasso's mistress, Marie-Therese Walter, in 2001 from someone who bought it anonymously in 1997 for more than $48 million. Though he said he paid more than the anonymous buyer had paid, he declined to divulge the purchase price"

Looks to me "more than $48million" may have been the $54 million and that was before the hole - If LLoyd's paid for the repair at $90,000 - - - where is the problem?

Rich and powerful doesn't mean greedy and stupid

Fed up with insurance companies getting the rap - the darn thing was only worth what someone would pay for it at the time of the transaction - not what he was supposed to sell it for

I bet if someone spent some time on google they would get the whole story - not the chop-shop excerpts that leave out the meat