They literally spent a decent chunk of money spinning up a line of business that could only make money if the tariffs were illegal.

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garyfirestorm a day ago | parent | next [-]

> Did they know it was illegal

it doesnt have to be black and white. they knew enough to spin up a business that when it is overturned they could make money... which means they knew the probability was high.

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hammock a day ago | parent | prev [-]

[flagged]

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PaulDavisThe1st a day ago | parent [-]

Insurance company deal: if you pay us $X now, and then Y happens, we will make you whole, even though that cost may very well exceed $X.

Lutnick deal: we pay you $X' now, and if Y' happens, we collect everything which will substantively exceed $X'.

This is not insurance, its closer to shorting stocks.

Oh, one other thing: the insurance company has essentially nothing to do with Y at all, in the sense that they have no control over Y and generally speaking no involvement in it (think: accidents, floods, storms, fires). By contrast Lutnick is the Secretary of Commerce of the United States of America.

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hammock 17 hours ago | parent [-]

Lutnick deal: if we pay you $X now, and then Y happens, you will make us the whole refund, even though that windfall may very well exceed $X.

Insurance company deal: you pay us $X' now, and if Y' happens, we pay for everything which may substantively exceed $X'.

	▲	PaulDavisThe1st 13 hours ago \| parent [-]
		I have no idea what the point of this is, since it just restates what I wrote, and reinforces the point that the Lutnick deal is nothing like "insurance".