WASHINGTON, Dec. 23, 2020 — Homeless New Yorkers are targeted in a $31.7 million slip-and-fall ring … A crime ring burns and floods dozens of homes. … A sober-home mogul trades sex for drugs.
Source: Hall Of Shame Showcases $80B Pandemic Of Insurance Fraud
I was having a wonderfully quiet morning until I read this article from Bloomberg. I’ve provided the first paragraph which essentially summarizes the survival strategies for some of the largest insurance companies on the planet.
- Buy a small bank that no one else would want due to imprudent and improper lending practices
- Convert into a Federally regulated bank or S&L
- Stand in line and beg for money from the US taxpayer.
Go ahead and read the entire article. It will make you violently ill.
I felt I needed to explain my previous post.
Nov. 17 (Bloomberg) — Four of the world’s biggest life insurers may acquire small banks that regulators have cited for improper practices to improve their own chances of getting cash from the $700 billion U.S. government bailout fund.