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Reply #13: Insurance is a cross between a Ponzi scheme and gambling. [View All]

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baldguy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-22-07 01:46 PM
Response to Original message
13. Insurance is a cross between a Ponzi scheme and gambling.
In NY it's actually written into the law that while it may APPEAR to be a Ponzi scheme, or may APPEAR to be gambling - it really isn't. Why? Only because it's defined in the law that way. You can't take bets on when Grandma is gonna die, but if you call it "insurance" it's legal.
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  -Your perception of insurance companies? panader0  Mar-22-07 01:01 PM   #0 
  - You didn't include the description  Trailrider1951   Mar-22-07 01:03 PM   #1 
  - Both 2 and 3  tk2kewl   Mar-22-07 01:04 PM   #2 
  - Insurance companies are an essential part of the most irrational health care funding system  BurtWorm   Mar-22-07 01:04 PM   #3 
  - Insurance is legalized gambling.  acmavm   Mar-22-07 01:05 PM   #4 
  - Let me share what my Congressman said on the subject after Katrina  BOSSHOG   Mar-22-07 01:09 PM   # 
  - A form of organized crime. n/t  SutaUvaca   Mar-22-07 01:09 PM   #5 
  - i have blue cross, and state farm.  mopinko   Mar-22-07 01:12 PM   #6 
  - another thumbs up for blue cross  orangepeel68   Mar-22-07 01:46 PM   #14 
  - The 3 rules of insurance industry:  shain from kane   Mar-22-07 01:13 PM   #7 
  - It's a huge rip off scam for consumers  Lone_Star_Dem   Mar-22-07 01:16 PM   #8 
  - I work in a life insurance brokerage  Marrah_G   Mar-22-07 01:29 PM   #9 
  - And don't get sick outside the US  Bjornsdotter   Mar-22-07 01:30 PM   #10 
  - They're parasites...(eom)  KansDem   Mar-22-07 01:35 PM   #11 
  - Ambrose Bierce had something to say about that:  cloudbase   Mar-22-07 01:42 PM   #12 
  - Bierce is wonderful  SheWhoMustBeObeyed   Mar-22-07 02:22 PM   #16 
  - Insurance is a cross between a Ponzi scheme and gambling.  baldguy   Mar-22-07 01:46 PM   #13 
  - Greedy pigs.  PA Democrat   Mar-22-07 01:57 PM   #15 
  - Another example of why we need universal health care  Marrah_G   Mar-22-07 03:56 PM   #17 
  - I work in a hospital and deal with insurance companies daily and they will do anything to get out of  WI_DEM   Mar-22-07 03:59 PM   #18 
  - But it's not like there have never been doctors or hospitals that have fraudulently overbilled  RGBolen   Mar-22-07 08:47 PM   #24 
  - Ye oldest scamme in the worlde  baldguy   Mar-22-07 08:13 PM   #19 
  - The only place you can literally practice piracy  MN ChimpH8R   Mar-22-07 08:30 PM   #20 
  - That's right!  kiahzero   Mar-22-07 08:36 PM   #21 
  - I completely agree with you except ... as to organized gambling  aint_no_life_nowhere   Mar-22-07 08:39 PM   #22 
  - They are the work of Satan.  ocelot   Mar-22-07 08:39 PM   #23 
  - Blood sucking leeches  Raine   Mar-22-07 08:50 PM   #25 
  - I agree with you! n/t  Jacklyn75   Mar-22-07 09:03 PM   #27 
  - In an earlier era I would have answered this differently  salin   Mar-22-07 09:00 PM   #26 
  - My perception of insurance companies is UNDER REVIEW and  B Calm   Mar-22-07 09:05 PM   #28 
  - Analogous to the gaming industry. The odds are in their favor to come out on top.  Winebrat   Mar-22-07 09:23 PM   #29 
  - Insurance is one of the biggest scams in the history of mankind.  Odin2005   Mar-22-07 09:27 PM   #30 
  - It's a RACKET!!1 a SCAM!!1 a SNAKE OIL!!1 n/t  UTUSN   Mar-22-07 09:35 PM   #31 
  - I like '0's  Swamp Rat   Mar-22-07 09:38 PM   #32 
 

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