After all, Big Insurance IS Wall St (Obama's "base"
. They are merely creating a state of confusion, whereupon they can steal the gold without anyone looking. And if they get caught doing somwthing illegal, what's gonna happen? A mere slap on the wrist is all.
A similar situation is happening with flood insurance, as the federal subsidies expire. Flood insurance is set to increase by as much as 8 to 10- fold. Modest houses here in St Pete might see premiums of 10-30 thousand dollars for a 250K dollar house (which is pretty average for here, for a non-waterfront home). There is an area of town here, Shore Acres, that is an old derdge and fill devwlopment...many canals, and low-lying ground. It gets flooded regularly, about 4 major times in past 35 years. This happens when a major rain event combines with unusually high tides, and the streets flood. Per a recent article in the Tampa Bay Times, its one of the most flood-prone areas of the entire US. Theres all kinds of arguements going on, whether the govt should subsidize insurance...but completely unmentioned is the fact that that area has collected $55 million in insurance claims, while making premiums totalling $280 million during the same time span. The insueance Cos are making a killing, even without federal subsidies. They just using the chaos and confusion to try and make more money.
Edit history
Recommendations
0 members have recommended this reply (displayed in chronological order):
= new reply since forum marked as read