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If I take out 50 insurance policies on my house - and then it burns down ....
Should I get paid 50x what my house was really worth - or should I go to jail for fraud?
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Assuming the policies are non-exclusive of each other, of course you should.
But hey, I know what you're really asking here, kgb999. And yes, you should be a winner on Double Jeopardy!
September 23, 2008 10:25 PM | Reply | Permalink
So, what if between all the insurance companies they only have enough actual money to cover the cost of one house?
September 23, 2008 11:54 PM | Reply | Permalink
Depends, who is your lobbyist?
September 23, 2008 11:35 PM | Reply | Permalink
You would go to jail.
The CEO of Merrill Lynch would get an 8 figure golden parachute along with a 30-yard dumpster full of taxpayer bailout cash.
September 24, 2008 12:12 AM | Reply | Permalink