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New Mexico | and the ins co who pays the wreck was US...the govt.
Bailout of 08, then once again in 09.....approx $800 billion each.
Interestingly, the ins agent in Your scenario is perhaps posed in the finance case as Moody's and/or Standard and Poors which are the debt and equity ratings cos ( govt of course supposedly monitors the supposed credit worthiness models used ).
This whole thing actually IS a Ponzi scheme ( been ongoing for years ), but so disguised and spun so slickly that no one has ever really noticed.
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Goldman
