[Neidermeyer]

I wish I was smart enough to know — but this entire “meltdown” or “crisis” seems kinda phony to me.
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Me Too...

OK ,, you went into legal agreements with someone else ,, those contracts look very much like insurance contracts but don’t require that you have a compelling interest in the underlying product (unlike life insurance where the persons life must affect you through blood or business) ... the vast majority of these contracts are really nothing more than bets ... and you have no guarantee through regulations that the bookie has the money on-hand to pay off... OK THEN ... I say place an arbitrary settlement date of 01/01/2009 on all these bets,, settle all of them you can and nullify the rest ... the people creating all these legally suspect $$$$ out of thin air should be happy that they aren’t going to jail or a firing squad..

[org.whodat]

OK ,, you went into legal agreements with someone else ,, those contracts look very much like insurance contracts but don’t require that you have a compelling interest in the underlying product (unlike life insurance where the persons life must affect you through blood or business) ... the vast majority of these contracts are really nothing more than bets ... and you have no guarantee through regulations that the bookie has the money on-hand to pay off... OK THEN ... I say place an arbitrary settlement date of 01/01/2009 on all these bets,, settle all of them you can and nullify the rest ... the people creating all these legally suspect $$$$ out of thin air should be happy that they aren’t going to jail or a firing squad..

Excellent, but I think a nose would be better. If they make them keep an 90% cash reserve for loss, it would help. But just requiring that you actually own and have in your possession what you insure would help. And all sellers would need to licensed insurance agents.