You know how when you are going on a holiday by plane, you can insure your baggage. In case a mistake happens and your baggage gets lost, you can file for a claim?
The basic principle is you pay a premium and when you make a claim, if it is valid, you get paid for the loss.
So, check this out. I heard from someone who knows someone who spoke to someone (you get the picture. I am giving no names.) that there is a financial institution which has insured itself against miscalculations! This same financial institution also insures itself against losses made from bad loans. When claims were actually made for bad loans, the claims were not valid because the institution failed to make thorough checks prior to approving the loans.
By insuring itself against miscalculation (due to laziness) and lazy work (or bad loans as they call it. I call it lazy work. Approving without conducting checks.), does that not all give us lazy bums some hope? I feel like walking to an insurance company right now and insuring myself against any possible loss resulting from my laziness to put in effort at work.
I don't understand how an institution can make the effort to pay premiums for an insurance to cover miscalculations, but it can't put in effort to perform correct calculations. What has come to the world we live in today?!
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