Scooby – the list is long and notorious. Reliance, INA, Kemper, Providence-Washington, SEACO, Fremont General, American Mutual, and yes, AIG, and on the life side Executive Life, Baldwin United, Mutual Benefit – once the news hits the street, the run on the bank begins. Once confidence is lost, it’s irretrievable.
Everyone I hear talk about it says the only way to survive is a buyer and that no one will buy a company that has said disregard all financials back to 2010 while they revise them.
Going down? Being pulled under by the same forces that brought Kemper (Lumbermans Mutual) and Atlantic Mutual down.
Scooby – the list is long and notorious. Reliance, INA, Kemper, Providence-Washington, SEACO, Fremont General, American Mutual, and yes, AIG, and on the life side Executive Life, Baldwin United, Mutual Benefit – once the news hits the street, the run on the bank begins. Once confidence is lost, it’s irretrievable.
Paul…do you think Tower will go insolvent?
Everyone I hear talk about it says the only way to survive is a buyer and that no one will buy a company that has said disregard all financials back to 2010 while they revise them.