Insurance

[rmathis]

So I don't really talk about my real work stuff much, but this kinda irritated me.

http://www.insurancejournal.com/news/national/2008/12/11/96228.htm

So here is the timeline as I see it.

1. AIG risks collapse 
2. Us taxpayers dump money on AIG.
3. AIG is losing customers rapidly because no one wants to deal with a company on the verge of bankruptcy
4. AIG lowers its prices below cost to regain those customers using taxpayer money to make up the difference.  <-  This is where we're at today.
5. AIG Competitors ultimately lose business due to clients going to the "cheaper" deal. <- this is the future.
6. AIG Competitors shrink/ have layoffs to compensate.
7. AIG suffers massive losses, risks further collapse due to selling products for less than they cost AIG.
8. taxpayers dump more money on AIG or risk collapse of companies that now rely on AIG.

Socialism is great, huh?