Tuesday, September 16, 2008

"It's Patrick. He's dead!"

That, of course, was a classic spoof done by Air Farce a few years back of those silly Norwich Union ™ commericals. You know, "It’s Patrick, he got life insurance ..." then they went into a spiel for "guaranteed" life insurance for older people -- guaranteed because everyone was placed in the highest risk group when a term life plan, based on medical risk and age, could be obtained for much lower.

The North American operations were sold some years ago to AIG ™, American International Group, best known as the sponsor of Manchester United.

Late today, it was revealed that unless it somehow manages to raise upwards of $90 billion by the end of the day (more than double what was thought earlier), AIG will go bankrupt as well. Once again, it’s a case of a company investing innocent policyholders' money in subprime mortgages. Amazingly even though they're bleeding money, they still can afford to put on commercials for those same old people insurance policies on cable tv around the clock -- even today!

Wow, on top of the bad news over the weekend with Lehman and Merrill, who’s next?

So let’s try this commercial: "It’s Patrick. He says we’re screwed even though we got life insurance!"

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1 comment:

Saskboy said...

Your post had me laughing, even though it really is terrible news.