On Sat, 20 Sep 2008 22:56:41 GMT, (Nico Coesel)
wrote:

Jim Thompson wrote:


On Sat, 20 Sep 2008 08:19:26 GMT, (Nico Coesel)
wrote:

Jim Thompson wrote:


[snip]
E-mailed to me today by daughter-in-law Renee, widow of my second son
Duane.

Jim, just one question: do you have insurances?

Not sure of WHY you are asking... but yes.

An insurance is the same thing: you work for the money you pay to the
insurance company. If someone else slips up, he (or she) gets away
with the money you worked for. Distribution of wealth (communism) is
stupid, but having some (government regulated) insurance that keeps
people on their feet is not.

Insurance companies ARE regulated in the US and are required to have
reserves sufficient to meet claims, otherwise they're taken over by
either state or federal regulators.

This recent fiasco is due to Clinton approving the removal of
restraints on investment banks, who then got into mortgage
_instruments_.

...Jim Thompson
--
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