March 2009

A brief introduction as previously reported by Paul Kiel for ProPublica:

As we’ve noted before [1], the main cause of AIG’s collapse was its credit-default swap portfolio. The swaps were essentially insurance contracts on securities, and for a fee, AIG guaranteed the security’s value. The problem: If the prices of the securities collapsed, AIG

My question to every single one of you out there is, "What service do you pay for all your life but get penalized for using?"  If your guess was INSURANCE ding, ding, ding, you win.

I’m sick and tired of people coming into my office shocked and dismayed that their insurance company would "drop" them