Posted on 10/26/2013 12:46:03 AM PDT by Cincinatus' Wife
Or maybe a carrot. He's probably got a section in the law that allows him to reimburse insurance companies for any losses and gives them a special bonus for "cooperation" with the scheme.
That he is all that stands between them and a mob with pitchforks.
My understanding is that there is a section which guarantees reimbursement to the insurance companies if they take more than 3% losses over the next three years...or something similar.
OK, that’s what I figured. The same kind of crap that allowed the CRA to get us in trouble with housing.
1. Politicians come up with stupid socialist ideas they force on capitalists.
2. Capitalists tell politicians they will lose money under the scheme.
3. Politician says, don’t worry, we’ll cover your losses.
4. Capitalist make deal with socialist and let the good times roll! The perfect business plan that lets them make money or make the taxpayers make them good if they have losses.
5. The whole thing starts to fall apart.
6. We ask, how stupid can you people be?
7. Politician says, “YOU elected me! I thought I had free reign to do what I wanted.”
8. All hell breaks loose.
We’ve seen it all before.
That’s a pretty good description.
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