Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America Highlight

That helps explain why in 2005, despite the fact that it was blindsided by Katrina, one of the biggest natural disasters in American history, the property/casualty industry made an after-tax profit of $48.8 billion—a new record, beating out the previous year’s record of $40.5 billion.