In terms of jobless claims, continuing claims rose by 10, 000 to 3, 730, 000 in the most recent report, as the insured employment rate remained flat at 3%.

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Its patients are young, healthy and insured, and its rate of postsurgical infections is half that of the big general hospital.

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So the default rate for insured munis is below 0.1% yearly.

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Fourth, uninsured Americans use hospital emergency rooms at about the same rate as privately-insured patients, and only one to two percent make regular visits (four or more per year) to hospital emergency rooms.

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But if the loans insured by the FHA defaulted at an unexpectedly high rate, the costs to the government of covering these loans could increase.

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On the first, Harald Benink of Maastricht University and George Benston of Emory University told the conference that deposit guarantees should be explicitly confined to accounts paying a relatively low rate of interest, and that these insured deposits should be more than fully backed by safe liquid assets (such as treasury bills and commercial paper).

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The plan allows those borrowers who took out subprime mortgages between Jan. 1, 2005, and July 31, 2007, to pursue one of the following options: refinance to a new mortgage, switch to loan insured by the FHA, or freeze their "teaser" rate for five years.

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More people are left only with self-insured as an option and it too will be price at the higher not group rate.

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These transactions were very complex internally, but externally one can see quite simply that these select few constructed a money machine that took mortgages, a large percentage of which were junk, as input and put out mortgage backed securities that were rated AAA. Plus, these money machines insured the transactions as though the mortgages were top rated (a 2% default rate, as I recall).

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There is the added situation that many such insured defaults are staged to allow the issuer to accelerate the bonds and refund them at a lower interest rate.

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