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FRB – Oral History (p34) – Ettin. If you go too far in insuring or regulating, what you create is a moral hazard where the market participants themselves don’t worry about the risks being taken, because they expect “Uncle Sugar” to bail them out.  (p37) – Ettin. With the deposit proceeds they could then raise,…

Recent Company Experience Harold G. Ingraham: What is meant by “recent company experience?” With respect to investment experience, is it the portfolio yield based on the book value of the asset portfolio or does it relate to “new money” yield rates and changes in the realizable value of assets? With respect to expenses, does it…