Moore on Matthews show: "Peasants Insurance". No wonder why they hate HCR

[Cetacea]

So-called "peasants insurance" is the practice by large corporations whereby life insurance policies are taken out on employees. The companies then claim them as beneficiaries after they die.

Shouldn't this be illegal?

[thunder rising]

1. Work them to death and collect more than the family when they die. Corporate love

[Hissyspit]

10. VIDEO Here:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=385&topic_id=380110&mesg_id=380110

[Cetacea]

15. Thank you!

[Dawson Leery]

2. Sickening, angering, but believable.

[RKP5637]

3. UNBELIEVABLE!!!

First time I heard about it was today on his show... I couldn't believe it... WTF is corporate America becoming...

[Confusious]

4. What have they always been..

Is the point.

[Cetacea]

13. Very true. New media is increasing the rate of discovery.

[RKP5637]

18. I can't wait to see Michael Moore's new film. He's great at throwing it in their faces!

We are in such dire need of a turn around in this country. One major obstacle is so much of congress is controlled by corporate American...

[babylonsister]

5. Can you remember the name of the rep. who was going to introduce

a bill making this illegal? WHY hasn't that been done already?

[Cetacea]

6. No. If I'm not mistaken he is from Chicago. Will catch rerun later on.

[Hissyspit]

11. It sounded to me like he said Rep. Gutierrez from Chicago.

http://luisgutierrez.house.gov

[babylonsister]

12. Thanks, birthday boy!

belated? :hug:

[Hissyspit]

16. Yes. Last Friday.

:D

[babylonsister]

17. See, I was close!

:rofl: It wasn't two months ago! :)

[ipaint]

21. There was a bill, it did pass ( 2006? )

and it required the employees consent. As was expected that didn't stop the practice.

Low level employees have no power so the idea of consent is moot. The banks are the biggest abusers of this practice.

[Cetacea]

23. The policies can continue years after they've left as well.

And the companies are shielded from disclosure.

[BrklynLiberal]

7. That has been one of Wal-Mart's favorite ploys

http://www.commondreams.org/headlines05/1102-06.htm

"Dead Peasant's Insurance

Wal-Mart has taken out life insurance policies, known as "dead peasants" , on low-wage hourly employees that pay benefits to the company when the workers die. On top of that - before Congress began cracking down on the practice in 1996 - companies were able to take out loans against the value of these policies and enjoy a tax write-off on the interest payments. "

[Cetacea]

9. Just wonderful. Even the name of this practice sickens me.

And it's primarily used on low income employees? Such cruel, cold logic.

[janet118]

8. It reminds me of insurance agents . . .

who roamed the low income sections of urban areas, in the early 90s, when black teens were getting murdered everyday, trying to sell life insurance to parents. Vultures.

[liberalhistorian]

19. I remember the scene in the 1992 movie

"Grand Canyon", with Kevin Kline, Mary McConnell and Danny Glover, that showed just that; an insurance flunky visiting a woman's house the very day after her neighbor's son, a young black teen, had been shot and killed and while the mother was cleaning up the blood spots outside of their house, where it happened. The woman angrily tells the suited white guy where he can put it and starts to shut the door, and he says that "you people need to get real." I have no doubt that that's the way it really happened in a lot of cases.

[Cetacea]

20. That was a fine film. It's creators were telling us about this so long ago.

[earth mom]

14. We should all take out insurance policies on some big name politicians or CEOs & see what happens.nt

[Cetacea]

29. It is probably an illegal act for us peasants. nt

[Vidar]

22. K&R

[WCGreen]

24. If only Scrooge had know about this one...

[Touchdown]

25. Your missing a word. It's actually "Dead Peasants Insurance"

Also sometimes called Dead Janitor Insurance. But... no class warfare here.:eyes:

BTW: It was the corporate upper management that came up with that term. Just wanted to drive the true meaning home.

[Cetacea]

28. Thanks. "Dead Janitor Insurance" too, eh? Bastards.

[LooseWilly]

26. My mom was literally worked to death in her office.

After she died, I hear that a lot of people in that office quit... apparently not wanting to be "next". They actually had to re-organize the whole office...

If they made some cash... I'm glad my mom at least made the payout rough on them.

[JVS]

27. Yes it should be illegal.