Once we had a loan secured by something along the lines of "all equipment now owned or hereafter acquired, wherever located." The loan assistant asked the loan officer if he wanted to require insurance. He replied "you can't insure that S#!%"
I almost fell out of my chair. If you can't even get insurenace on that stuff, why are we loaning money on it?????????????
I am pretty sure it was a terrible loan all the way around.
_________________________
Nothing ruins a Friday like realizing it is only Thursday