Jason Rines (iThinkBig)

Trust vs. Transparency: What the Market Needs Now

That is about the size of it Bazman.


On Sep 17 04:53 PM Bazman wrote:

> AIG and the Sleepy American, a story of love
>
> Imagine one day you get an unexpected phone call from your beloved
> insurance company. “Things are a little tough these days, but our
> relationships with you are of utmost importance, and we are calling
> to see how things are going,” they explain. You explain that things
> were just fine with you, but you don’t recall ever having a good
> relationship with you friendly caller. As a matter of fact you would
> classify your relationship over the last several years as problematic.
> Actually, you would describe it as a relationship where you feel
> victimized, taken advantage of, and frankly ripped-off.
>
> You recount to your friendly caller the time they wouldn’t insure
> you because of that pre-existing condition. And the time they increased
> their quote by 25% because your credit score was below 750. And there
> was the time they cut your claim by 30% because you forgot to consult
> with then before it was submitted. Oh, and then there was the time
> you had to spend two hours a day talking to the claims agent for
> weeks to get them to pay your claim. And never mind the fact that
> your premiums have almost tripled in the last 3 years. And there
> was the time they asked you to leave the relationship because you
> actually filed a claim. You are finally interrupted by your caller.
>
>
> “Water under the bridge,” your friendly caller explains. “I really
> need you to lend me some money. It’s probably more like give me some
> money, because I’m almost sure I’ll never pay you back. I’m looking
> for anywhere between $2000 and $2500.” After a few seconds of disbelief,
> you kindly tell them to kiss your you know what and hang up the phone.
> Next morning you check your retirement savings account and realize
> that $2,500 has actually been withdrawn. They did leave you a nice
> note however. The note says, “Dear friend, sorry to inconvenience
> you, but based on these extraordinary times of ultra greedy insurance
> companies, incompetent banks, and sleazy credit card companies, we
> have decided to commit your hard earned cash to help them out. We
> know you don’t mind and promise, double promise, hope to die promise
> to pay you back. We are fully aware of your great sense of confusion
> and general state of helplessness and have made the wiser choice
> on your behalf. Lots of love.” Signed, Super smart man Paulson, Genius
> Bush, and Big Brain Bernake. You shake your head in agreement and
> go on with your day feeling good about those really smart people
> making those tough calls, every single day.