What Playing Gotcha Can Getcha

October 12, 2010

Banks, credit card companies and other financial services firms made an art of snaring customers in loopholes and walloping them with fine print. Now they’re learning that playing “gotcha” can getcha in the end. The credit card companies, with their love of misleading semantics, ought to have been the first to applaud the linguistic dodge by which President Obama sidestepped the need for a Senate confirmation for Elizabeth Warren, who …

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Insurers Cling To Beneficiaries’ Money

August 3, 2010

Imagine that a man walks up to you with a proposal. He’d like you to lend him a large sum of money, possibly most of your worldly wealth, at an interest rate of less than 1 percent. And then he says yes on your behalf. In an excellent piece of reporting by David Evans, Bloomberg Markets magazine last week drew attention to the fact that many insurance companies are effectively …

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