Zeev's Turnips Patch-No Politics (ZEEV)

[Lane Hall-Witt]

In addition to the U.S. trouble spots (JPM, C, BAC), there's been chatter recently about trouble among large European insurers -- maybe we're seeing a Japan-style ramp just to relieve pressure there. The chatter began even before the devastating floods of the past couple of weeks. A report this weekend said only about 20 percent of the property damage due to floods is covered by private insurers -- but that's still 20 percent of a very large number, on top of their existing capitalization shortfalls.

One thing is for sure: with this thin volume, Da Boyz are having a field day.