a few weeks ago i bookmarked a page that discussed the french insurance company and another one that i think was us based. i would provide the link, but, sadly, the site can't be reached.

from what i remember, one company used something along the lines of "you took a risk that violates the contract" and the other said that you, by taking the risk, which if you'd done your due diligence, means you "effectively committed suicide," which the policy doesn't cover.

i got excited about this dowd business yesterday. keep in mind that the pharma companies, the insurance companies, and everyone else involved are mostly owned by entities like blackrock and vanguard. the big funds own a big part of everything traded on an exchange. it looks to me like the major players are looking to scapegoat pharma, so they can cut some losses and take control of the companies that take the hit.

as someone pointed out, the physical assets still exist. the shareholders of these companies will be wiped out in a bankruptcy. think pension funds and 401k account holders that own shares. the creditors become the new shareholders. and who are the creditors? the big banks that lend money to these corporations.

as always, follow the money.

- p coyle