And AIG insured many mortgages. Remember 2008? Insurance is good for small-scale disasters, not large-scale ones like 2008 Mortgage bubble or COVID19.
--------
For most city level governments, things like Theater, Restaurants, Sport-events, Conferences, Gambling, Malls, Tourism, Hotels, Gasoline Tax (aka Driving), serve as a major leg of their tax revenue.
All of which has been severely restrained by current events.
--------
For most city level governments, things like Theater, Restaurants, Sport-events, Conferences, Gambling, Malls, Tourism, Hotels, Gasoline Tax (aka Driving), serve as a major leg of their tax revenue.
All of which has been severely restrained by current events.