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Like a mutual company

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  • William
    When Romneys ancestors were mormons in northern england Benjamin Franklin was devising insurance in the colonies. I do not know who lifted from who but
    Message 1 of 3 , Oct 8, 2012
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      When Romneys ancestors were mormons in northern england Benjamin Franklin was devising insurance in the colonies. I do not know who lifted from who but mormanism and insurance have several similar tenants.
      A mormon tithes 10 % a mutual insurance company asks for savings of around 10%. Both act as business cartels guiding business and clients to the group. Both act as cults asking specific behavours of members and asking for non risky,highly conservative life styles.
      Mormons promise elder care as do the mutual company with its health insurance. They promise to support you in your old age.
      These are extremely complicated life long contracts. They are very english and mercantile as their common origins show. Now what their relationship to modernism or even democracy I have not thought out. But I will. Bill
    • irvhal
      Anglo-American notions of private insurance (if I may be so bold as to offend the politically correct with reference to pedigree) focus on shared risks and
      Message 2 of 3 , Oct 8, 2012
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        Anglo-American notions of private insurance (if I may be so bold as to offend the politically correct with reference to pedigree) focus on shared risks and avoidance of moral hazard (the later of which is exemplified by the likes of claims for burning one's own property or medicaid fraud). Ideally, the association is voluntary, and gratuitous risk takers are as free as others to pool and risk their own assets --if they wish to and can afford it. Ideally too there should be free competition amongst insurers (though often frustrated by state intervention), and insurance law holds insurers accountable to claimants for breach of contract, together with punitive damages for claims withheld in bad faith. And as to cartels, let's not forget the various professional cartels, inclusive of the omnipresent ambulance chasing networks and bill happy diagnosticians, against whom insurers, in monitoring for moral hazard, provide a balance.

        Irvin

        --- In existlist@yahoogroups.com, "William" <vize9938@...> wrote:
        >
        > When Romneys ancestors were mormons in northern england Benjamin Franklin was devising insurance in the colonies. I do not know who lifted from who but mormanism and insurance have several similar tenants.
        > A mormon tithes 10 % a mutual insurance company asks for savings of around 10%. Both act as business cartels guiding business and clients to the group. Both act as cults asking specific behavours of members and asking for non risky,highly conservative life styles.
        > Mormons promise elder care as do the mutual company with its health insurance. They promise to support you in your old age.
        > These are extremely complicated life long contracts. They are very english and mercantile as their common origins show. Now what their relationship to modernism or even democracy I have not thought out. But I will. Bill
        >
      • William
        Message 3 of 3 , Oct 9, 2012
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          --- In existlist@yahoogroups.com, "irvhal" <i99hj@...> wrote:
          >
          > Anglo-American notions of private insurance (if I may be so bold as to offend the politically correct with reference to pedigree) focus on shared risks and avoidance of moral hazard (the later of which is exemplified by the likes of claims for burning one's own property or medicaid fraud). Ideally, the association is voluntary, and gratuitous risk takers are as free as others to pool and risk their own assets --if they wish to and can afford it. Ideally too there should be free competition amongst insurers (though often frustrated by state intervention), and insurance law holds insurers accountable to claimants for breach of contract, together with punitive damages for claims withheld in bad faith. And as to cartels, let's not forget the various professional cartels, inclusive of the omnipresent ambulance chasing networks and bill happy diagnosticians, against whom insurers, in monitoring for moral hazard, provide a balance.
          >
          > Irvin
          >Irvin, Witness Jack Welch and his self firing from Forbes because of libelous assertions about "The chicago guys" and unemployment numbers. The business sector sees the bleak future in an Obama reelection and are pushing legal bounds to avoid their just penalties. The american middle class is in a war with american business class. Obama will bring the pendulum back to middle ground with tax increases for the rich and needed regulation to wall street and insurance. The true moral hazard is to let the Bush era imbalances continue. When the Dems speak of waste fraud and abuse they are including the upcoming medicare Advantage scandle.Volunteers are training to combat these fradulant business tactics on seniors. This amounts to trust fund fraud and that kind of stealing gets jail time. Kick the advantage boys out of medicare and you will lose much of the moral hasard they pretend to protect the funds from. It is pay back time and the business community will lie and run and try to obfuscate as that is all they have ever done. It has gotten very bad when the chicago machine has to stand up for fair business practice. Bill
          > --- In existlist@yahoogroups.com, "William" <vize9938@> wrote:
          > >
          > > When Romneys ancestors were mormons in northern england Benjamin Franklin was devising insurance in the colonies. I do not know who lifted from who but mormanism and insurance have several similar tenants.
          > > A mormon tithes 10 % a mutual insurance company asks for savings of around 10%. Both act as business cartels guiding business and clients to the group. Both act as cults asking specific behavours of members and asking for non risky,highly conservative life styles.
          > > Mormons promise elder care as do the mutual company with its health insurance. They promise to support you in your old age.
          > > These are extremely complicated life long contracts. They are very english and mercantile as their common origins show. Now what their relationship to modernism or even democracy I have not thought out. But I will. Bill
          > >
          >
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