“Helping Banks is Hurting Insurance Industry” Geneva Association Tells G20


Collapse_smallPlease forgive me for not reaching for the paper tissues  THE real story is that helping banks is hurting …SOCIETY!

Without doubt, the activities of billions of ordinary citizens did not give rise to systemic risk! FACT!

Do we really need to ask, in whose interest is it for the insurance industry to tell only half a story?

OK, so the language is clever “…traditional insurance activities do not give rise to systemic risk”. Hard to argue with. But this communiqué smacks of insurers’ girding their loins in anticipation of the fallout from further, inevitable, global financial turmoil.

Presumably choosing to distance themselves and pointing their fingers at the banks is intended to stave off the threat of further regulation. Even if that is, ultimately, unsuccessful, it may serve to delay unwanted scrutiny and provide the opportunity to adapt the current model. It could also be touted to hard-pressed businesses as a “justification” of a potential tsunami of premium increases that may follow the next financial earthquake: growing seismic activity in the markets serve as a warning.

The insurance industry is, hardly, in the “innocent bystander” category!

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U.S. Financial World War: word up bro’ G20 showdown…may be “rap war”


The G20 is getting underway in South Korea. High on the agenda is the brewing currency battle between China and the United States.
Need a primer on the issues? Check out our US-Sino Currency Rap Battle, featuring Chinese president Hu Jintao and American president Barack Obama.

Serious message goes “street”

China has mad stacks of US Treasury debt and fears America will inflate its way out the hole by weakening the greenback further.
The US, on the other hand, says China is keeping its currency artificially undervalued to protect its exports.
It’s a battle for the ages. And everything you need to know about US-Sino trade relations can be learned right here.

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