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Politics : The Castle

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To: Joe NYC who wrote (607)11/19/2002 6:40:50 PM
From: MSI   of 7936
 
Private insurance is regulated by common sense and federal and state legislation, and requires accountability for the basics, including well-proven actuarial calculations for future liability, and purchase of reinsurance where necessary.

I.e., they do not operate in an "unfunded liability" fashion.

As far as your WAG, that's obviously an unacceptable way to run the government. But it's essentially what's happening.
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