Socialized Life Insurance

U.S. Mulls Widening Bailout to Insurers –

Go figure… life insurance companies made bad investments, and now want in on the bailout too… but they also do not want to fess up to their precarious financial position, and thus want govt to socialize the whole industry so as not to give competitive advantage to well run firms.

Its pretty screwey, many folks are against socialized medicine, and yet we have big insurance firms that want to be socialized, at least in the less lucrative arena’s it seems.

About the only thing we can probably figure on, is that Joe sixpack and mainstreet are not going to get bailed out, and likely a vast portion of the F1000 will, either through overt socialization through the bailout program, or exceedingly favorable tax or other corporate welfare schemes. What on earth ever happened to antitrust laws such that no entity would ever be too big to fail.

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