453
Insurance 'nightmare' unfolds for Florida homeowners after back-to-back hurricanes
(www.nbcnews.com)
this post was submitted on 13 Oct 2024
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Insurance companies in the US have become a Ponzai scam instead of a service.
is that a meme or did you accidentally butcher the term "ponzi scheme" which is something entirely different? not saying insurances aren't often a scam. just a different kind.
I modified it slightly to suit the situation.
Why do you not think a Ponzai scheme fits?
Because a Ponzi scheme revolves around paying past people with fresh money without using it as promised at all.
Insurances (when fraudulent) collect money but don't pay out anyone unless forced by lawsuits. Ponzi schemes are s vers specific financial tactic.
See https://en.m.wikipedia.org/wiki/Ponzi_scheme
I guess I see enough parallels to call it "close enough", but I guess that's a matter of perspective.
meanwhile the people taking your money and giving you nothing in return are laughing at the fact that people are spending time debating "what kind of scam" it is
It's not a matter of perspective. You used the wrong term. No big deal, we've all done it, and now you know.
I don't understand the pun you are going for here