One of the indelible scenes in literature, and one aided immeasurably by George Cruikshank’s illustration, is of Charles Dickens’ Oliver Twist in the workhouse going up to the stern man serving the gruel with the unprecedented request, ‘Please, sir, I want some more.’
I know it is in another era and seemingly unconnected, but I can’t help but think that those insurers who said they are going to accept TARP funds from the U.S. are going to be portrayed as some kind of modern twist on dear young Oliver.
Yes, they’re the ones who are in the poorhouse, going hat in hand to the fat, censorious master asking for ‘more.’ At least that’s how they are likely to be portrayed by the competition.
A while back we ran a poll question on our terrific new website (www.lifeandhealthinsurancenews.com, which you really need to visit if you haven’t), and the results were interesting, although by no means scientifically valid.
The question was: Will competitors try to attach a stigma to those insurers who accept TARP bailout funds from the U.S. government?