Friday, September 10, 2010

Earthquake Re-insurers Get Hosed by New Zealand


Oh, those sneaky Kiwis! They offloaded the 2.5 billion of insurance claims to the clueless Swiss! This is just like the American mortgage thing. Who would know they were insuring garbage buildings on garbage soil?

In other news, they hit a maximum aftershock of 5.1 which did some damage. If this really is a sheep M5.5 in an M7.0 wolf's clothing, we aren't going expect much bigger. These aftershocks may even exceed the main shock PGV in some places.

Also, they are passing emergency legislation that will allow homeowners to slap up some shoddy repairs right away. This is like building right away in a notorious flood plain. Yeah for government! :)

ps. no offence intended to the whining 'victims'. I realize all your money depends on pumping up this earthquake. Please just ignore me, everybody else does!

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