Is Insurance just a big scam?

[GGT]

Is Insurance posing itself as a jobs program?

It's a huge industry. It has webs in all sorts of businesses and transactions. The insurance industry lobbyists have been able to convince legislators that health care means having health insurance, and that began in "free market" ideology like Romney's MA that adopted the Heritage Foundation's idea that health insurance IS health care, which led to Obamacare.

It's nearly impossible to own/drive a car without auto insurance. You can't get a mortgage without homeowner's insurance. And flood insurance has become a total fiasco. For all the complaints about governmental regulations, most things can be traced to the Insurance Industry and/or their lawyers and lobbyists.

Even Social Security is basically an Insurance program that doesn't follow actuarial rules, so it's no wonder people get confused about what insurance means when it's strictly described as a tax program.

And let's not forget that MBS was basically buying CDOs as Insurance products. It's easy to think the Financial crisis was averted by bail outs to Big Banks.....but somewhat harder to convince people that their Insurance companies are part of the Big Banks.