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They literally spent a decent chunk of money spinning up a line of business that could only make money if the tariffs were illegal.
by anon7000 8mo ago
They literally spent a decent chunk of money spinning up a line of business that could only make money if the tariffs were illegal.
- hammock 8mo ago[flagged]
- PaulDavisThe1st 8mo agoInsurance company deal: if you pay us $X now, and then Y happens, we will make you whole, even though that cost may very well exceed $X. Lutnick deal: we pay you $X' now, and if Y' happens, we collect everything which will substantively exceed $X'. This is not insurance, its closer to shorting stocks. Oh, one other thing: the insurance company has essentially nothing to do with Y at all, in the sense that they have no control over Y and generally speaking no involvement in it (think: accidents, floods, storms, fires). By contrast Lutnick is the Secretary of Commerce of the United States of America.
- hammock 8mo agoLutnick deal: if we pay you $X now, and then Y happens, you will make us the whole refund, even though that windfall may very well exceed $X. Insurance company deal: you pay us $X' now, and if Y' happens, we pay for everything which may substantively exceed $X'.
- PaulDavisThe1st 8mo agoI have no idea what the point of this is, since it just restates what I wrote, and reinforces the point that the Lutnick deal is nothing like "insurance".
- hammock 8mo agoThey are the same. If you don’t get it then I’m not sure I can help you further
- garyfirestorm 8mo ago> Did they know it was illegal it doesnt have to be black and white. they knew enough to spin up a business that when it is overturned they could make money... which means they knew the probability was high.