Long Pond Topics: So what should have been done?

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	Name:	Tallyman -
	Subject:	So what should have been done?
	Date:	2/15/2007 1:38:19 PM

Actually, federal flood insurance got us into this mess. When I was a kid if you had a house on the beach it was a shack--often a concrete block shack. And why? No one would insure it so you didn't want to build something you couldn't afford to rebuild out of your pocket.

I suppose if State Farm is making a killing one could invest in it and get rich from the dividends. I don't know who owns it or how to invest in it. I don't think it is still a mutual but it may be. AIG, one of the biggest insurance companies has not seen any big run-up in its stock. It is selling for about what it was selling for three years ago. Allstate is up about $15 after three years. Nationwide is up about $20 over the same period. So are lots of other companies.

So who is getting the money if the cheating is so successful and how can I get in on it?