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Looks like they need a total bonding capacity of $10.3B for 1 Event and another $11B for 2 Events for a total bonding capacity of $21.2B to cover 2 events.
“at best could issue $7 billion in bonds”.
A $21.2B bond offering is 3.2x larger than the LARGEST bond offering EVER issued.
How does the FHCF raise the remaining $14.3B if not in a Bond Offering?
US Treasury bailout loan?
I’m sure that ALL Florida citizens would be agreeable to help with a bailout. Afterall, they don’t think they’ll ever really have to do this, because it will never happen to them and insurance carriers are basically scum bags anyway and charge way too much money and make way too much insofar as profits are concerned. Just ask the Florida DOI, which is the most hated DOI (for good reasons) in the country!!
The author of this release appears to have been confused after reading so many zeros. So much that it appears their m’s and b’s got mixed up.
I hope this isn’t going on with the state’s coffers…