Wall Street's Death Casino 9.09
September 06, 2009
– Comments (19)
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.
Either way, Wall Street would profit by pocketing sizable fees for creating the bonds, reselling them and subsequently trading them.
http://www.nytimes.com/2009/09/06/business/06insurance.html?_r=1&hp=&adxnnl=1&adxnnlx=1252238534-TcweAE6CEv2B6XgepLHnrQ
If you know a lot of people are going to die early, think about how much money you could make?
If you were going to drive a health care policy that cut off care to the elderly, would that improve your odds? How about simply cutting off funds so they can't afford medication or health care?
WASHINGTON -- The official poverty rate for Americans 65 years and older has stood for years at 10 percent, the lowest rate among age groups. But the true rate could be nearly twice that high, according to a revised formula created by the National Academy of Sciences that is gaining favor among public officials, including some in the Obama administration.
The NAS formula would put the poverty rate for older Americans at 18.6 percent, or 6.8 million people, compared with 9.7 percent, or 3.6 million people, under the existing measure. The original government formula, created in 1955, doesn't take account of rising costs of medical care and other factors.
"There are still many millions of older people on the edge, who don't have what they need to get by."
http://www.koco.com/money/20719686/detail.html
If you knew poverty was going to spread across the nation, what impact would that have on families abilities to help their parents?
It can be a very profitable casino when not only can you design the game, but you can participate AND influence the outcome.
A few months ago, Alstrydomous prognosticated that bankers would start betting on whether Americans would die.......many ridiculed the forecast......welcome to 9.09.
What is coming down the road will shock many of you as the bankers remove money out of the system. In England, bankers bet whether protestors would die......how far off is that here?
At least you were warned. Watch how we squirm as the bankers continue cut off credit.....and we keep bonusing them.
Stay Cool Fools....Things are about to HEAT UP!!!!!
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