This bit of insight from the New York Times: The banks that helped Greece hide its debts also bet that it would default on the debts they helped hide.
As one insider describes it: Imagine you are able to take out fire insurance on your neighbor's house. It gives you profound incentive to burn it down at some point in the future.
Damn! I wish I'da thought of that one! I wuz raised to think that sort of behavior was, well, fraudulent and harmful to my neighbors. Sunday School teachers kept drilling that 'Golden Rule' thang into my head. Little did I suspect, it's actually a business plan! And it works! And it's legal!
Damn!
Invest in premiums, gasoline, and matches...all you need is a compliant insurance agent (with whom you share the proceeds). Write the policy, pay the premiums, bide your time, wait until the owner is on vacation.
Hold a house barbecue.
Collect the payoff.
Now, in the spirit of Bill (It's the economy, stupid!) Clinton, we'll just waive any discussion of ethics.
Ethics, Shmethics. It's about making money, honey.
(Of course, this makes me wonder if someone's insured MY house! Maybe I should put off that vacation, after all...)
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