Auntie Trust is already dead, but now she's rolling around in her grave
Two Insurance Giants to Combine in $16 billion deal. I've always thought insurance was mostly a scam--buy a piece of paper on the installment plan, and hope the seller is able and willing to give you some of the money back when something bad happens to you. But it's a scam most of us have to participate in. You need insurance to get a license plate for your car; you need insurance to get a mortgage. With lots of little companies, you at least had a chance of finding one that would sell you a policy you could afford. But as the companies combine, your right to drive or buy a house is now owned by these giant corporations. If they don't like you--no car, no house.
And then there's health insurance: We'll sell you some if you can land a good job with a large company, and you guarantee you'll never be sick. Take it or leave it.
Two Insurance Giants to Combine in $16 billion deal. I've always thought insurance was mostly a scam--buy a piece of paper on the installment plan, and hope the seller is able and willing to give you some of the money back when something bad happens to you. But it's a scam most of us have to participate in. You need insurance to get a license plate for your car; you need insurance to get a mortgage. With lots of little companies, you at least had a chance of finding one that would sell you a policy you could afford. But as the companies combine, your right to drive or buy a house is now owned by these giant corporations. If they don't like you--no car, no house.
And then there's health insurance: We'll sell you some if you can land a good job with a large company, and you guarantee you'll never be sick. Take it or leave it.
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