Thread regarding USAA layoffs

Explain to me like I'm stupid

(Because I sort of am)
how the company lost billions of dollars
Equibus paribus what sh---y decisions caused us to lose money when other similarly situated FI's made money or lost comparatively less?

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Post ID: @OP+1n3L8976

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For perspective, Progressive has pointed at USAA (not by name, implied) as the reason for their own recent growth in Texas. Many members are moving to other companies. That can’t help revenue either…

Post ID: @rgk+1n3L8976

Insurance company gets greedy tries to be bank, runs bank like a 3rd grader would, losses money and suffers multiple government fines. The end

Post ID: @coi+1n3L8976

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