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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (87278)	12/20/2000 9:28:59 AM
From: Hawkmoon	Read Replies (4) \| Respond to of 132070

I'm not saying I have a perfect monetary system in mind. Well, we operate the current insurance system is a very similar manner since very most insurers take in more from premiums than they pay out in liabilities. This spreads out the risk and provides people the coverage they require when things go wrong. However, from time to time a hurricane or some other natural disaster occurs that spikes the amount of claims that are made and increases liabilities on the part of insurers. So in the mind of the financial system, so long as there are more good loans out there being paid off than bad loans that default, the system works. There are issues that are more threatening to the financial system than what folks are currently railing about, namely the ease with which individuals can declare bankruptcy and free themselves of the liabilities they have created. That is a FAR GREATER threat to the health of the US financial system, imo. Regards, Ron