Wall Street Pursues Profit in Bundles of Life Insurance - Here We Go Again

[EV_Ares]

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.

The entire sickening article @ link: http://www.nytimes.com/2009/09/06/business/06insurance.html?_r=1&ref=todayspaper&pagewanted=print

[fascisthunter]

1. vampires

the real deal

[bullimiami]

2. so then they have a stake in early 'retirement'.

and they also invest in 'health care' and 'health insurance' so it comes full circle.

they save money by limiting insurance payouts and knock some of the people off early producing more profits.

and the moran repukes want you to be scared of the government. ha.

[Junkdrawer]

3. Coming Soon to a homepage near you...

Top Dollar For Your Life Insurance Policy

[Turbineguy]

4. Given all this talk

about civil war and no health reform and the condition of the country, I'd say they stand to make some real dough on those early deaths.

Laugh on you assholes, I canceled my life insurance years ago.