That's what the insurance industry has always done. Held assets in reserve to cover

future claims liabilities.

There's a reason why only the banks collapsed and needed bailing out and AIG (who used to be an Insurer by tradition started messing around with banking instruments etc)

Posted By: essexcanaryOTBC on January 7th 2016 at 16:56:55

Message Thread

UK economy looking dodgy (NCFC) - Larry Hagman, Jan 7, 15:06:23
- They'll carry on spinning it's all great. The media and bbc will lick their arses along (NCFC) - pants, Jan 7, 15:30:04
  - Just like the headline about a "booming economy" (NCFC) - pants, Jan 7, 15:34:34
- won't really affect your lifestyle though will it Larrold (n/m) (NCFC) - Jumbo1, Jan 7, 15:24:27
  - I care about others too though (n/m) (NCFC) - Larry Hagman, Jan 7, 16:21:29
    - and perhaps it'd be nice to leave a sustainable world to our descendents (NCFC) - Worzel Scrimmage, Jan 7, 16:31:26
      - We need scientists to save society and the world. (NCFC) - essexcanaryOTBC, Jan 7, 16:32:46
        
        probably just better to allow a pandemic or world war to stave off the inevitable (NCFC) - Worzel Scrimmage, Jan 7, 16:34:57
        
        That's the way it'll probably end up going tbf (sadly) (n/m) (NCFC) - essexcanaryOTBC, Jan 7, 16:51:51
    - lend us ?50k then? (NCFC) - Jumbo1, Jan 7, 16:29:25
- Indeed. In fact all of "the west". When this bubble bursts it will be massive. Far (NCFC) - Steve in Holland, Jan 7, 15:11:08
  - Best way to transfer wealth from the lower classes to the filthy rich (NCFC) - essexcanaryOTBC, Jan 7, 16:27:27
  - well, I wouldn't say we've learned nothing (NCFC) - CWC, Jan 7, 16:14:03
    - Well people are increasingly able to borrow more money than they can afford to pay back (n/m) (NCFC) - Steve in Holland, Jan 7, 16:45:25
      - So they become owned. Printing more money to put more people and the world in debt (NCFC) - essexcanaryOTBC, Jan 7, 16:52:21
    - Wise words. We all need to try find win-win not win-lose as you correct suggest is happeni (NCFC) - essexcanaryOTBC, Jan 7, 16:29:58
      - all traits that come naturally to humans (NCFC) - CWC, Jan 7, 16:41:40
        
        Well, as humans we have a responsibility to learn them don't you think? (NCFC) - essexcanaryOTBC, Jan 7, 16:53:56
    - Best form of quantitative easing is to give more money to poor people cos they spend it (NCFC) - Larry Hagman, Jan 7, 16:27:28
      - I think it's probably debt write offs that we need (NCFC) - CWC, Jan 7, 16:39:24
        
        That's what the insurance industry has always done. Held assets in reserve to cover (NCFC) - essexcanaryOTBC, Jan 7, 16:56:55
        
        and then people would soon borrow as much money again that had been written off... (n/m) (NCFC) - Larry Hagman, Jan 7, 16:48:39
        
        Stricter lending rules and better education for borrowers. It's our psyche that needs to (NCFC) - essexcanaryOTBC, Jan 7, 16:59:50
      - Exactly. They don't save or invest. Their spending boosts taxes (VAT) and company profits (n/m) (NCFC) - essexcanaryOTBC, Jan 7, 16:31:19
        
        Yep, and yet the govt want to make the poor even poorer which means (NCFC) - Larry Hagman, Jan 7, 16:39:48
        
        Of course. They're powerful. They can abuse it to make themselves (NCFC) - essexcanaryOTBC, Jan 7, 17:01:53
- ^^^^ just been to lunch with George Osborne (n/m) (NCFC) - Pixelman, Jan 7, 15:09:14
  - Hagman is Ed Balls? (n/m) (NCFC) - essexcanaryOTBC, Jan 7, 16:32:01
  - at the Playboy Mansion (n/m) (NCFC) - Jumbo1, Jan 7, 15:23:38

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