Anupam, watching Fox, is intrigued by a report on General Electric's potential liability for the Japan meltdown. The number is: zero, nada, bubkas, zilch--apparently there is some sort of "channeling agreement," designed to ditch the cost onto Japanese taxpayers. The market doesn't seem to be impressed. Hard to know what an honest paranoid is supposed to think about this. Is it new evidence of (political/economic) power in the corporate megalith? Or is it Fox trying to spin the stock out of the doldrums?
Meanwhile,Ritholtz has an instructive piece up on reinsurers, how much and what? Weirdly, the news may not be all bad: catastrophic losses may mean they won't have to lower their premiums.