The Hot Button Questions:- Money, Banks, & the Economy Message Board

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Pastimes : The Hot Button Questions:- Money, Banks, & the Economy

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To: maceng2 who started this subject	10/18/2002 10:33:36 PM
From: D.Austin	Read Replies (1) of 1417

Hellooooooooo Pearly The other day you mentioned insurance companies and the possible trouble that lies ahead in that industry. I found an interesting article on a favorite site of mine. "The attacks on the World Trade Center are expected to cost the insurance industry anywhere from $40 billion to $75 billion in claims, with property insurers picking up the bulk of the tab. The industry can afford to cover its losses this time, but in a letter sent to President Bush after the attacks, industry representatives warned that the cost of property insurance would quickly become unaffordable for most people. - It is extremely important for individual homeowners to grasp this problem. Insurance costs could escalate beyond our ability to keep up with them... Look at the money donated to the Republicans VS Democrats opensecrets.org If the insurance industry likes the democrats version of this reform the donations are skewed.And looks that way back to the early 90's. "The insurance industry is not very enthusiastic about any bill that doesn’t offer them direct aid. Instead, the industry prefers the current Democratic proposal. opensecrets.org "Republicans added several provisions to the House bill that would consolidate terrorism lawsuits in federal court, prohibit punitive damages and limit attorneys’ fees. That seems way to reasonable to me ! -------- An update that is 23 hours old----Democrats also made some concessions, including allowing lawsuits to be consolidated in a single federal court. washingtonpost.com "The deal on a long-stalled bill came after the White House backed down from its insistence on sweeping tort changes as part of the legislation. But no tort reform---gawd that pisses me off--- ------------------ Boy,sorry this looks out of order and to think I had a train of thought here. But back to the most important point is the consumer.We will be hurt we will suffer... The amount of money that the insurance industry and the government throws around is disdainful. See ya later Dennis

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