2009-09-22 — bloomberg.com
"U.S. insurance companies hold about $3 trillion in rated bonds, including corporate debt and mortgage-linked securities. Regulators, responsible for determining if insurers are able to meet obligations to policyholders, use the use the evaluations by ratings companies such as Moody’s and Standard & Poor’s in their analysis of insurers’ investment portfolios."
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catherine at 00:52 2009-09-23 said:
this is the saddest thing to come because it is going to blindside SO MANY SENIORS. Insurance and pension funds are huge Ponzi schemes and they are getting ready to fail like mortgages...........after all mortgage backed securities and stock in themselves was their greatest asset..........all gone and not one green shoot in sight that says it won't all fail.......... WE SURE HATE OUR CAREER BEING GOVERNMENTALIZED RIGHT OUT FROM UNDER US, BUT IMAGINE PAYING AN INSURANCE POLICY ALL YOUR LIFE OR WORKING FOR 30 YEARS AND EXPECTING A PENSION AND YOU GET A MADOFF CALL INSTEAD OF YOUR CHECK this is the ticking timebomb that will shake the world...........nothing has started yet compared to this........and remember the rating agencies WERE SMACK-DAB IN THE CENTER OF THE MORTGAGE SECURITY MESS TOO Permalinkadd a comment | go to forum thread
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