alt Hacker NewsTBF the best example of a program like this that currently exists is the National Flood Insurance Program which covers many sub-multi-million dollar homes and is billions of dollars in the hole.
TBF the best example of a program like this that currently exists is the National Flood Insurance Program which covers many sub-multi-million dollar homes and is billions of dollars in the hole.
It's a pretty astounding mix of "being the most expensive insurer that exists for a particular parcel" and "completely unable to fulfill its obligations in the event of any medium- or large-scale disaster." Hence my use of the term bailout.