Ready To Jail Some People?
The Market Ticker - Commentary on The Capital Markets
2017-10-06 09:00 by Karl Denninger
in Corruption , 689 references Ignore this thread
Ready To Jail Some People?
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Let's start with all the medical personnel in the Vegas Metro Area.

The nut wounded some 500 people.

The medical scam system has now almost-certainly bankrupted all of them with charges that are 5-10x what they would be in a transparent, price-posted and everyone-pays-same market.  What's even better is that many insurance policies explicitly exclude any sort of "act of war or terrorism", and they define what that means, so you can bet this event will "count."

Of course you're not in a position to negotiate when you have just been shot and are flat on your back bleeding out.  That's exactly the sort of circumstance -- an exigent and genuine emergency -- that leads the state of Florida and most other states to jail you if you attempt to gouge people on, say...... gasoline.

That's true in fact for basically every service or good in an emergency in virtually every state, save one: Medical services.

There the states and federal government let the providers **** with you impunity.

Every one of these hospitals, physicians and every single employee of same should be under indictment right now for financially screwing every one of those 500 shooting victims.

First they were victimized by being shot.  Then they got financially raped, and most still are being raped, by the hospitals, doctors, nurses and other medical providers.

This conduct needs to be treated as the felony that it is under 15 USC Chapter 1.

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Whitehat
Posts: 130
Incept: 2017-06-27

New York City
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It would be interesting to know what percentage of the victims have some sort of major medical insurance and whether this illegal, corrupt and BS system of financial products covered the insured's costs and to what degree. If there were any victims below legal age, their parents are also going to get hosed in many cases. Perhaps a young person of legal age, just starting out can go bankrupt and not have much to lose.

People with assets are probably going to be wiped out for a variety of reasons even if insurance did cover most of the medical expenses since there could be long term periods of unemployment and/or actual loss of employment or business. This does not even address the costs of long term or permanent disability. The constant ****ing with the insurance industry over the decades made it nearly impossible to purchase products which could address financial disasters such as this. I am sure that some providers will at some point wish that they died as they see the damage that their injury causes to their families. It is only possible to secure your family with a financial product in case of death due to all of the meddling in what should be a free and open, fairly regulated market.

The only saving grace is that this bastard might actually be wealthy and his estate subject to attachment by the victims. Sadly, the land sharks will eat up a lot of the spoils.

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There are two ways to be rich: One is by acquiring much, and the other is by desiring little.
Tickerguy
Posts: 150044
Incept: 2007-06-26
A True American Patriot!
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Quote:
The only saving grace is that this bastard might actually be wealthy and his estate subject to attachment by the victims. Sadly, the land sharks will eat up a lot of the spoils.

With the number of casualties no material part of it will wind up being attached to his accounts; there simply are too many claimants.

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Winding it down.
Analog
Posts: 1467
Incept: 2010-12-29

arkansas ozarks
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Hmmm yes, i seem to recall some "act of war" clause in property insurance. Does medical have the same ?

When it falls outside insurance contract the Valkyries in hospital billing declare a blood feast. I found that out myself.


https://www.linkedin.com/pulse/terrorism....
Quote:
For example Cignas policies state they will not pay out for terrorism as well as any acts of stopping or preventing terrorist activities which have taken place or are expected to take place, and also makes similar disclaimers for anyone taking part in riots, civil wars rebellions and similar activities.

In the market there is a lot of variation in terms of what may or may not be covered, and surprisingly little uniformity between insurers.

For some insurers any incident involving terrorism is not covered by standard health insurance, and is usually listed as a standard exclusion in the policy.

.............

Cignas take on terrorism: Armed actions, armed threats, actions of violence and threats of violence which endangers safety of persons or property, or orders to take the actions as mentioned above, or issuing orders to take actions to destroy or interfere with electronic or communications systems, no matter whether the individuals or groups implementing the actions have any relations with any organizations, governments, states, sovereigns or military authorities. These types of actions, threats and orders have the effect of threatening, forcing and damaging governments or people or deranging the economy.






a.


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Never trust a computer with anything important.
Kgmqt
Posts: 105
Incept: 2013-08-19

Minnesota
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I am guessing that a lot of the victims were from out of town, so will get doubly screwed for being out of network. Even if they were local I am guessing the didn't have much choice on where they ended up.

For these victims I am sure they will try to go after the money. His estate will be small compared to the casino he shot them from. I am guessing Mandalay Bay will be found to have some fault in this and the victims get some type of pay out.

Analog: I am wondering of the Cignas statement applies to those volunteering in the terrorist act - either committing or trying to stop - and not the innocent victims.
Tdurden
Posts: 554
Incept: 2015-01-29

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jointly and severally (or severably depending on what part of the country you're from). Everyone gets sued. The deepest pockets pay. The only "winners" will be the lawyers. Gee...you would think those are the guys writing the laws or something!

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"I'd like to live just long enough to be there when they cut off your head and stick it on a pike as a warning to the next 10 generations that some favors come with too high of a price." -Vir Cotto Babylon 5
Tickerguy
Posts: 150044
Incept: 2007-06-26
A True American Patriot!
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Eat them.

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Winding it down.
Tdurden
Posts: 554
Incept: 2015-01-29

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I'll have my parasite lawyer served up rare, thank you. I imagine if there is a long enough "lights out" problem in the near future, there will be more than a couple of lawyers draped across the hoods of trucks like deer during rifle season. Or bow season, even.

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"I'd like to live just long enough to be there when they cut off your head and stick it on a pike as a warning to the next 10 generations that some favors come with too high of a price." -Vir Cotto Babylon 5
Tickerguy
Posts: 150044
Incept: 2007-06-26
A True American Patriot!
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The smiley is coming, like it or not.

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Winding it down.
Ckaminski
Posts: 4237
Incept: 2011-04-08

Mass-Hole!
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Feed the lawyers to the pigs, make bacon.
Whitehat
Posts: 130
Incept: 2017-06-27

New York City
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lawyers are only the reflection of the society. if the dirtbag ones had no friends, were unwelcome most places and shunned regularly, things would change really quickly. this applies to many other people responsible for our social problems.

the exclusions in many so-called health insurance policies can exclude you if you are the victim of a violent crime or an innocent bystander who could not escape a riot or mass demonstration through no fault of your own or lack of pre-planning. currently helping a family who had this happen and is going to be hosed, right here in liberal NYC.

another recent example: a nice fellow was spending the day at the beach in Belmar, NJ playing volleyball. he noticed someone near drowning and went in to the water to save the person. the paramedics at the scene were a little concerned that he may have some seawater in his lungs and recommended a trip to the local hospital to be safe. he is insured with major medical where he lives elsewhere. got banged for a simple check and x-ray, not covered by insurance which would be 2500, charged the cash rate $5000. apparently some aspect of his actions triggered the exclusions in his major medical policy. if some fool goes into the water after lifeguard season, let him drown for his stupidity. of course the county and state absorbed the local police who assisted in the rescue and I think that USCG was involved. this guy did the greater part of the save for free and got ****ed.

BTW: if you save the life or protect a victim of a crime from injury in exigent circumstances where one could not wait for LE, your injuries will not be covered by many major medical policies.

After this current national tragedy, we will see another hurdle that good folk will have to go through and pay for directly and indirectly. concerts will have to have master insurance policies to cover attendees at such event, added to the ticket price. maybe bags will have to be searched at hotels. Where is the damned NRA promoting the low cost and effective of everyone should carry a weapon everywhere. basically it is a political org where its employees make a damned good living playing nice with the political class. sounds like good work if you can get it. yes, it could not be used here, but the dirtbag could have been challenged even earlier on the hotel floor or thought twice before this. the solution is always going to be more police state and more regulation and more costs. you can't prevent everything in our society, but i can think of a few schools where casualties could have been massively reduced.

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There are two ways to be rich: One is by acquiring much, and the other is by desiring little.
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