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jobs_throwaway01/17/20251 replyview on HN

> the entire idea of being an "insurer of last resort" is based on an unlimited supply of money to fund losses that no longer make financial sense

Key insight here. Insurer of last resort == bag-holder for negative EV proposition.


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pc8601/17/2025

Insurer of last resort == taxpayers bailing out people who can no longer afford to live in their multi-million dollar properties but refuse to sell and move.

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