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Recommend David Faber CNBC Video: Next In Line For A Taxpayer Bailout: Life Insurance Companies. How Guaranteed Variable Annuities Wrecked a Golden Goose (Email)

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The insurance business is supposed to be simple and relatively stable.  It's not difficult to sell insurance, collect premiums, hedge your risk elsewhere with re-insurers and then invest the remaining premiums conservatively.

So what the hell happened?  Shockingly, it involved greed.  We'll explain it inside.


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