Comments on: We’re in the insurance business http://www.buzzmachine.com/2008/09/17/were-in-the-insurance-business/ by Jeff Jarvis Fri, 10 Feb 2012 13:40:25 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Peter Levitan http://www.buzzmachine.com/2008/09/17/were-in-the-insurance-business/#comment-383034 Peter Levitan Thu, 18 Sep 2008 14:29:20 +0000 http://www.buzzmachine.com/?p=3803#comment-383034 Allow me to paraphrase Nic Fulton, "If ‘we’ are the financial insurance business now, then let’s hope we don’t run it like we do the "newspaper business." OY, the idea of publishers running anything gives me the creeps. Allow me to paraphrase Nic Fulton,

“If ‘we’ are the financial insurance business now, then let’s hope we don’t run it like we do the “newspaper business.”

OY, the idea of publishers running anything gives me the creeps.

]]> By: Earl Mardle http://www.buzzmachine.com/2008/09/17/were-in-the-insurance-business/#comment-382967 Earl Mardle Wed, 17 Sep 2008 15:53:53 +0000 http://www.buzzmachine.com/?p=3803#comment-382967 Buffet wont go near it. A few years ago when he was planning to buy an Insurance company his due diligence team reported back that the business had a division that dealt in derivatives and they had absolutely no way to evaluate the value or the risk of the division. He bought the company and divested the derivatives business as fast as he could. Good luck trying to divest AIG or anyone else, of a derivatives business now. And isn't it interesting that it still takes 24 hours for the market bunnies to realise that, even though the company has been bailed out (whatever that means) the fundamental conditions of the economy that caused the ened for the bailout have changed not one iota. But yesterday they bid up the Dow and only today are they figuring out that their investments are not one whit safer. Buffet wont go near it. A few years ago when he was planning to buy an Insurance company his due diligence team reported back that the business had a division that dealt in derivatives and they had absolutely no way to evaluate the value or the risk of the division.

He bought the company and divested the derivatives business as fast as he could.

Good luck trying to divest AIG or anyone else, of a derivatives business now.

And isn’t it interesting that it still takes 24 hours for the market bunnies to realise that, even though the company has been bailed out (whatever that means) the fundamental conditions of the economy that caused the ened for the bailout have changed not one iota.

But yesterday they bid up the Dow and only today are they figuring out that their investments are not one whit safer.

]]> By: Nic Fulton http://www.buzzmachine.com/2008/09/17/were-in-the-insurance-business/#comment-382957 Nic Fulton Wed, 17 Sep 2008 13:51:55 +0000 http://www.buzzmachine.com/?p=3803#comment-382957 If 'we' are the financial insurance business now, then let's hope we don't run it like we do the social security 'business' (national insurance - its name in other countries). If ‘we’ are the financial insurance business now, then let’s hope we don’t run it like we do the social security ‘business’ (national insurance – its name in other countries).

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