Insurance companies are in line today jostling to get bank bailout money from the government. Most insurance companies didn’t own a bank and ran out and bought a small bank or savings & loan in order to qualify. If you can afford to buy a bank out of petty cash, do you really need taxpayer money?
Of course these companies are in real trouble since they are part of the New American Century and don’t do anything but push paper around. In the old days (pre-Ronald Reagan) companies that pushed paper around were a small accessory to the real economy. Then the Republicans and conservative Democrats decided that we didn’t need a real economy but could just push paper around. After all pushing paper around "creates" jobs to replace the ones that have gone to China. Jobs that are now being sent to India and the Philippines just as fast as the Insurance companies can do it. It takes money to establish overseas operations so they need a government bailout to pay for it.
Capitalism has stopped meaning "shared risk to establish a useful business". It is really just a legitimization of Ponzi schemes, predatory lending, government corruption and an assortment of deceptive if not outright strong-arm tactics to extract money from a hapless public. Any "useful business" is prey to be brought down by a "capitalist". The "too big to fail" predators are running out of prey and are turning to the government to keep them in fresh meat but this can’t last. Do you feel like you’re swimming in steak sauce?
PS: Moody’s ratings service has put a sort of down-grade on Municipal Bonds - all of them. Look for that to increase the cost that your local government pays for money. You’ll either pay more taxes or just get used to the pot holes and crumbling schools. The steak sauce looks good, let’s go in for a dip. www.prairie2.com