Fannie Mae-No Politics (FNMA)

[Donotunderstand]

so

are you saying insurance companies should stop buying re insurance for the 1 in 100 event ?

GENRE
MUNICHRE
SWISSRE

You think what they sell is worthless ?

In essence what the underlying insurance company (their most typical client) buys is insurance for just those type of emergencies --- within reason

We saw the 2007-8 meltdown … it is not nuclear war - 200 million dead - a 400 day flood - it is real and some might argue (and I do not want to argue here) but for the grace of lots of GOV action all over the economy it would have been worse (FDIC with NO limits - insurance on money market -reinsurance on GMAC and tons of others)