GM Facts and Fiction

[Johnny Horsepower]

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NO insurance co. went under during the great depresion. No insurance co. will go under this time. We are regulated out the a$$.

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True, but AIG had to be bailed out after too much exposure to bad debt. The reserve requirements are much stricter for insurance, because of the promises they have to keep.

I work for the largest mutual insurance company in the country; New York Life.
Being a mutual company, means you can steer your ship more conservatively, because you serve the policy holders who own the company, not stockholders who want short term gain/results.
We are in excellent shape.

John

ps. I have spent the last 18 years in the U.S. treasuries pit. I have stared at price boards and screens all day. (I am posting from the floor right now) So I am little closer to what is going on then most.
It is definitely scary.........