Talk about puttting out the fire after the barn has burned down. The next insurer failure will not be from risky operations outside their core business. It will be from bad underwriting/pricing practices combined with under-reserving of losses to hide that fact. Any guesses as to who will be first down that poop-shoot?
Regulators, always looking in the rear view mirror. I’m telling all of them what will bring about the next crisis. Will they listen?
Can anyone say A I G? They are the poster child for risky activities which was part of the financial meltdown. $182 Billion of our taxpayer money bailed them out because they were too big to fail. They are a nasty market and now they want to be forgiven because they have a new logo. What a joke.
Libby, I don’t think one executive pulling the strings on the sub prime bad paper has ever been criminally charged for this fraud. The same holds true on all the bid rigging scandal they were involved with Marsh Mc. I guess they had some of those good NY attorneys who got them off scot free. I believe them 100% that they have cleaned up their act and have a new logo proclaiming they are open to P&C business, don’t you?
Talk about puttting out the fire after the barn has burned down. The next insurer failure will not be from risky operations outside their core business. It will be from bad underwriting/pricing practices combined with under-reserving of losses to hide that fact. Any guesses as to who will be first down that poop-shoot?
Regulators, always looking in the rear view mirror. I’m telling all of them what will bring about the next crisis. Will they listen?
Can anyone say A I G? They are the poster child for risky activities which was part of the financial meltdown. $182 Billion of our taxpayer money bailed them out because they were too big to fail. They are a nasty market and now they want to be forgiven because they have a new logo. What a joke.
I’d say they should face “Capital Charges”. Of the criminal type, that is.
Libby, I don’t think one executive pulling the strings on the sub prime bad paper has ever been criminally charged for this fraud. The same holds true on all the bid rigging scandal they were involved with Marsh Mc. I guess they had some of those good NY attorneys who got them off scot free. I believe them 100% that they have cleaned up their act and have a new logo proclaiming they are open to P&C business, don’t you?
Absolutely! That new logo did the trick for me.