If He Is Insuring You, and You are Insuring Her, Who is Insuring Him?

by Johnny Debacle

AIG (NYSE: AIG) is now a subsidiary of Paulson Inc, because despite being in the insurance business, AIG had a common failing of man — the inability to look within and accurately assess one’s self. But what I don’t get is why AIG didn’t just insure itself. If I were in the insurance racket, the second thing I would do would be to make sure to write an insurance policy for myself. The first thing I would do would be to leverage my expense account into a huge birthday party featuring hookers, blow, ice sculptures and midgets in Sardegna. But the second thing would definitely be the whole insure myself against ever losing money. Actually that would be the third thing. First would be the hookers and blows, second would be insuring my privates, third would be insuring myself against ever losing money.

I mean isn’t that the whole point of insurance? To make someone pay too much so they don’t have to worry about something. Well I figure being AIG, I’d be an insider and be able to cut myself a deal and not make myself pay anything at all for being insured from ever not making money.

Recommendation: If you can’t insure yourself, who can you insure?

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