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The paper tiger

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  • bhvwd
    I do not relish writing this but today s news about AIG begs some analysis. In some ways my being in an insurance center might add credence or disbelief. It is
    Message 1 of 1 , Mar 2, 2009
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      I do not relish writing this but today's news about AIG begs some
      analysis. In some ways my being in an insurance center might add
      credence or disbelief. It is about philosophy, the existential
      prerogative of decision making and a false deity guaranteeing that
      which it cannot guarantee.
      Let me start by saying Insurance is not business, it is wagering,
      gamboling, bet making. I have been in it, around it all my life. I
      have owned a form of insurance company and have been an employee of
      a major carrier. I know it is not a guantor of solvency and as such
      loses its position as an indispensable entity. If we continue what
      is a particularly American racket we can destroy the world economy.
      This all comes to us by way of a desire to be safe and solvent. We
      have set up a infallible god of risk management and by the laws of
      chance no certainty is ever available. Insurance like religion
      postures an infinite authority in a finite world. It is a lie and a
      damn expensive lie. We have spent the precious capital to enlist
      the insurance god on our side and now it demands more payment when it
      cannot fulfill its obligations on its wager. We must stop and
      consider rational risk management while outlawing the guarantor lie
      of insurance.
      Now the insurance executives are threatening the world economy with
      collapse. This protection racket extends into health care, and all
      forms of business insurance. It looms in automobile and casualty
      areas but remains essentially the same shake down racket. If we want
      to save what is beneficial in capitalism we need treat the racket of
      insurance as the philosophical lie it has always been. Outlaw the
      insurance scam in all its forms. Make investment decisions on the
      merits of the investment itself and begin to live within our proper
      means. The house of cards is a lie and we cannot invest beyond the
      solvency of the investors. The insurance gods are bankrupting the
      world economy. Bill
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