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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (63847)	6/15/2006 4:23:00 PM
From: yard_man	Respond to of 110194

boo hoo my XLF puts look like raisins now ... back to buying a new 7-pack every week, until the banks get what's coming to them??

To: patron_anejo_por_favor who wrote (63847)	6/15/2006 7:06:13 PM
From: shades	Read Replies (1) \| Respond to of 110194

Insurers Sue U.S. Government Over Losses In Colo. Wildfire (Well I thought your arizona house flipping friends would be able to stick it to the insurers with the recent fires - but it looks like they don't wanna play ball) DENVER (AP)--Insurance companies have sued the federal government, seeking to recover more than $7 million in claims they paid for homes that were damaged or destroyed in a devastating 2002 Colorado wildfire. In a lawsuit filed Wednesday in U.S. District Court in Denver, the insurers claim the U.S. Forest Service was negligent in the fire, partly because of how the agency supervised Terry Lynn Barton, an employee who later pleaded guilty to charges of starting the blaze while on patrol. The fire southwest of Denver was the worst in the state's history, scorching 138,000 acres, destroying 133 homes and forcing more than 8,000 people to flee. The suit was filed by State Farm Fire & Casualty Co. Inc., Allstate Insurance Co. and three companies of the Hartford: Hartford Underwriters Insurance Co., Property and Casualty Insurance Co. of Hartford, and Hartford Fire Insurance Co. The lawsuit claims the forest service was negligent in its duty to prevent and suppress wildfires and breached its duty by allowing Barton to "act alone and unsupervised" instead of having two-person patrols. The suit also claims the government failed to keep radio dispatch lines available to report the fire and to adequately respond to the initial report of the fire. Jim Maxwell, a spokesman for the Forest Service in Denver, said the agency "pursued justice in this case with great zeal." Barton, 42 years old, pleaded guilty to federal and state arson charges for starting the fire by burning a letter in a drought-stricken area where a fire ban had been issued. She was sentenced to six years on the federal charges and 12 years on the state charges, but she will be resentenced on the state charges next month because an appeals court ruled the original term was too long. The Hartford and Allstate companies paid about 160 claims ranging from less than $300 to nearly $300,000, totaling more than $3.5 million, according to court documents. The lawsuit said State Farm paid more than $3.5 million on 150 claims, but did not list individual amounts. (END) Dow Jones Newswires June 15, 2006 16:51 ET (20:51 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 04 51 PM EDT 06-15-06