Armistead
11-24-10, 07:49 PM
It seems the next problem after the bank crisis will be life insurance companies.They're reporting huge losses that , if they continued could trigger a national meltdown. Course a market this big will spill over into
many other investment markets. Many say it would bring the stock market down to levels worse than the last crisis, costing possibly trillions in total losses.
That could wipe out shareholders, who already have suffered declines of 20% to 40% in the past week alone. Customers with annuities or insurance policies might have to turn to state insurance backstop funds and settle for only a portion of the money they were expecting.
Should the government bail out insurance next. If not, are we willing to let a depression take place to correct the issue, taking years with unemployment possibly reaching 30%.
many other investment markets. Many say it would bring the stock market down to levels worse than the last crisis, costing possibly trillions in total losses.
That could wipe out shareholders, who already have suffered declines of 20% to 40% in the past week alone. Customers with annuities or insurance policies might have to turn to state insurance backstop funds and settle for only a portion of the money they were expecting.
Should the government bail out insurance next. If not, are we willing to let a depression take place to correct the issue, taking years with unemployment possibly reaching 30%.