Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (183439)	7/25/2002 1:14:45 PM
From: JRI	Read Replies (2) of 436258

Heard an interesting proposal....(I suppose, best implemented after credit bubble explosion-ng) Allow insurance companies to sell Financial Statement Insurance. Companies should/must buy (investors can judge/value companies based on the coverage/protection they buy). Auditors would then be (more) independent, not beholden to companies' screwy models/GAAP interpretations, and would be employed (of course) by the insurance companies. Make claims/settlement process streamlined. Don't think its THE answer, but better then current system, no? Better for investors, I'd think... (Let's not argue about the solvency of insurance companies under such a system, and assume they can adaquately price risk)

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