2026 TeoTwawKi ... 2032 Darkest Interregnum Message Board

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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 374.22

-0.2%

Nov 21 4:00 PM EST

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Fiscally Conservative

To: TobagoJack who wrote (193585)	11/14/2022 5:33:14 PM
From: Logain Ablar	6 Recommendations Read Replies (1) of 217927

In the U.S. (or at least in Delaware back in 2007) to set up a Property and Casualty insurance company you had to start with a clean audited balance sheet of $50 million. I say clean being just assets with no liabilities. If there were any liabilities, then the audit fee goes up and the regulatory process (Delaware Insurance Department review and approval for a license) takes a lot longer. Everyone is focusing on FTX listed assets being at best 5 cents on the dollar but considering there was never an audit we can expect the liabilities to increase as well. Would not want to be in a CPA firm exposed to any of this. Remember the Justice Department blew up Arthur Andersen for its Enron audit report.

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