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(Marketwatch)   Investors can get 'Bernie Madoff insurance' to protect their money from fraudsters. Annnnnnnd the circle is now complete   (marketwatch.com) divider line
    More: Followup, Insurance, Capital Shield Insurance Services, new insurance product aims, Investment, Bernie Madoff, Finance, Capital Shield, Capital Shields' CEO Jim Foglio  
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235 clicks; posted to Business » on 12 Mar 2019 at 5:03 PM (8 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



15 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2019-03-12 04:15:29 PM  
You can earn interest with no actual guarantee, for an additional fee
 
2019-03-12 05:07:14 PM  
I'll get on that as soon as the wallet inspector comes back.
 
2019-03-12 05:16:08 PM  
What if the insurances asset reserve is with another Bernie Madoff type?
 
2019-03-12 05:22:40 PM  
So, another name for a credit default swap? Or variation thereof?
 
2019-03-12 05:37:10 PM  

Intrepid00: What if the insurances asset reserve is with another Bernie Madoff type?


What do you mean "what if"?
 
2019-03-12 06:12:39 PM  

Jacobin: So, another name for a credit default swap? Or variation thereof?


I was going to give you a real answer, but then I saw your handle and just rolled my eyes.
 
2019-03-12 06:34:40 PM  

Thosw: I'll get on that as soon as the wallet inspector comes back.


He was last seen in Vancouver, BC.
 
2019-03-12 06:40:27 PM  

BMFPitt: Jacobin: So, another name for a credit default swap? Or variation thereof?

I was going to give you a real answer, but then I saw your handle and just rolled my eyes.


Definition of Jacobin

1: DOMINICAN
2[ French, from Jacobin Dominican; from the group's founding in the Dominican convent in Paris ] : a member of an extremist or radical political groupespecially : a member of such a group advocating egalitarian democracy and engaging in terrorist activities during the French Revolution of 1789

Sorry to offend your sensibilities

Could use an education regarding insurance against fraudulent investments though. My guess is that the under writer wouldn't issue coverage after due diligence if it's problematic and would issue coverage if it doesn't appear to be fraudulent?
 
2019-03-12 07:29:24 PM  
next up: Insurance claim dispute Insurance


For when your insurance company's dispute/refusal to pay your claim is too risky to face without insurance.
 
2019-03-12 07:31:29 PM  

Jacobin: Could use an education regarding insurance against fraudulent investments though. My guess is that the under writer wouldn't issue coverage after due diligence if it's problematic and would issue coverage if it doesn't appear to be fraudulent?


Presumably there would be some sanity check requirements and the premium would account for how much transparency and auditing there was.

And the payout would definitely include a haircut from whatever your fake balance was.  Possibly capped at something like "how much you would have made it you had invested in some index - 1% aunnualized."
 
2019-03-12 08:09:46 PM  

vudukungfu: You can earn interest with no actual guarantee, for an additional fee


"Everything's Free In America,
for a small fee in America"

i.ytimg.comView Full Size
 
2019-03-12 09:40:03 PM  

Bukharin: vudukungfu: You can earn interest with no actual guarantee, for an additional fee

"Everything's Free In America,
for a small fee in America"

[i.ytimg.com image 850x478]


Exactly.

Additional taxes apply.
 
2019-03-13 10:01:08 AM  
The IRS still hadn't decided how or if to tax the return generated on this type of insurance sold inside annuities in last time I looked (2012).
 
2019-03-13 10:01:58 AM  
the last time*
 
2019-03-13 04:59:08 PM  
Don't advisors carry E&O for exactly this reason?
 
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