Cashing In On Death

[lame54]

http://crooksandliars.com/susie-madrak/so-now-we-know-why-wall-st-doesnt-wan

So Now We Know Why Wall St. Doesn't Want Health-Care Reform: Death Panels!
By Susie Madrak Monday Sep 07, 2009 7:00pm
So now we know who the real death panelists are!

After the mortgage business imploded last year, Wall Street investment banks began searching for another big idea to make money. They think they may have found one.

The bankers plan to buy “life settlements,” life insurance policies that ill and elderly people sell for cash — $400,000 for a $1 million policy, say, depending on the life expectancy of the insured person. Then they plan to “securitize” these policies, in Wall Street jargon, by packaging hundreds or thousands together into bonds. They will then resell those bonds to investors, like big pension funds, who will receive the payouts when people with the insurance die.

The earlier the policyholder dies, the bigger the return — though if people live longer than expected, investors could get poor returns or even lose money.

And really, who could possibly have a problem with that? Why would we think that enormously powerful financial interests would want to, you know, protect their investments by making sure our health care is less than optimal?

[no_hypocrisy]

1. What I don't understand is why Wall Street doesn't bundle

Dead Peasant Insurance wholesale.

http://moneycentral.msn.com/content/Insurance/P64954.asp

http://en.wikipedia.org/wiki/Corporate-owned_life_insurance

Walmart for example buys life insurance policies on its employees and collects the benefits as they die.

Can't you see Wall Street routine buying these policies from Walmart or buying its own policies and then bundling them as securities and putting them on the market?

[Fridays Child]

2. I believe that Wall Street profiteers could be this heartless, and it's sickening.

We're now officially more valuable dead than alive.

[lame54]

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[lame54]

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