Dems boost a terrible idea

BCEagle91
Sun, 01 Jun 2008 23:18:29 +0000

The problem with insurance is one of moral hazard.

I am no fan of Allstate or State Farm given their problems over the year. I dislike companies asking the Federal Government to bail them out of their problems, past or future where other private companies seem to be doing just fine. I believe that’s called corporate welfare.

I read that it was some kind of catastrophe insurance. So does Montana get covered for snowstorms and blizzards? If there truly is an insurance crisis (and I believe that there is), state insurance should have some kind of cap on coverage. We shouldn’t be subsidizing the wealthy with their oceanside condos and mansions.

If you build in an area where catastrophes are expected, build something cheap so that it can be cheaply replaced when things are wiped out. Have you seen a lot of the businesses by some beaches? Construction isn’t the greatest - a lot of it is pretty simple. But it would be relatively easy to replace if it was destroyed.

If Allstate and State Farm want a place to get reinsurance, they can call Warren Buffett who can write them up a contract without tapping the public till.

It looks like Clinton, Obama and McCain all received insurance money with McCain receiving the least by a wide margin. Insurance companies are pretty low on my list for getting corporate welfare.

Does anyone here think that nationalizing hurricane insurance is a good idea? Yeah, it had bipartisan support but so did the bankruptcy bill which was a horrible bill.