Wall Street bankers are at it again: They will bet your life on 'life settlements'

Whuuddd, since when didcha think Saints descended from Heaven and went to woik their schemes, er... “magic,” on the Street?

Them poor pussycats are getting a bad rap from your comparo—next time enlist dogs.

saying "this led to the collapse of the financial system" is very innacurate. Why? Because we know everyone will die, ie, no one will "default". Actually, this seems like a good risk free investment. If the people who are about to die are ok with getting some money while they are alive, I see no harm in this. Why are you spreading FUD?

ok - adjust it to collapse of insurance companies - why? For years the premiums and corresponding margins are not only set to morality tables but to historical data eg how many folks surrender, how many stop paying etc. Now the whole equations is rendered useless. Insurance companies cannot go back and raise rates in many cases by law.

TO DEEP BLUE, DID YOU MEAN MORTALITY TABLES, I DON'T THINK MORALITY FITS IN THIS SCHEME AT ALL. I THINK THE BANKS SHOULD STICK TO BANKING, OR GO TO WORK AT SOMETHING ELSE OTHER THAN INVENTING SCHEMES TO ALLOW THEM TO PAY THEMSELVES THE OUT LANDISH BONUSES.

sorry meant Mortality (but morales is funny) What i should have said it will destroy 50 years of what insurance industry actuaries have done and the insurance companies with them. Today's banks aren't banks it all by the standard definition.

they did this back in the 1980's with aids patients. They lost their ass when better meds were developed to extend the lives of hiv + people.

The bankers didn't learn anything from the mortgage meltdown, this is the same system only with life insurance.

This "brilliant idea" doesn't pass the "insurable interest"
criteria already in the law, but certainly brings images of
a salivating wolf at the door, with an elderly person
behind it, shivering. Why don't they just send us all out on ice flows,while we still have them?
The people on the inside of the Obama plans must view themselves as very special and the rest of us as disposable as a used hanky. It is even worse than the
Russians at their worst and is giving socialism a bad name
"big time." I won't suggest who will be left standing, as I
don't want to be labeled prejudiced toward any group, including tyrants, czars, "progressives," etc.
Anyway, until the "insurable interest" law is changed, this idea won't fly, unless our president issues yet another edict and it passes without the usual scrutiny used in the past.......it's like a free for all for the Obama team, isn't it?

And we are supposed to trust financial institutions now??? They are just not happy unless they are scamming the public...buying life insurance policies for a third of its face value...and they criticised the mafia. Shame on the financial institutions. Government regulatory agencies...where are you...certainly not protecting consumers...you must have your hands in the pot!!

Is it any surprise that that word banker, rhymes with wanker?

maybe I'm missing something but it sounds fine to me..I think it's nice that I could spend some of the money before I die..why not?

Vultures. Hyenas.

Just like the republicans.

First off wallstreet is mad up of thieves and liars and all should be put behind bars for life. They are nothing but vultures trying to get theirs and screw everyone else. Next they will go into full scale crime murder for hire to make monies for their own greed. The FBI should have closed this criminal organizaton down years ago.

This is so sick! What has this world become? These people all need to have the crap beaten out of them with a 2 x 4. When will this insanity stop? This is nothing but a rip off, a scam against the elderly and the sick. People whoever you are, do not allow this to happen. In my whole life I've never wished anyone harm but we need to rid the world of these rotten, no consciece, brainless animals (I know, that is an insult to animals). This makes me want to puke.

BANKS AND WALL STREET EXIST TO PROFIT . WHEN THESE PEOPLE BRIBE OUR SENATORS TO CLOSE THEIR EYES OR MAKE LAWS FAVORING CORPORATIONS OVER THE TAXPAYER , TAXPAYERS TAKE IT IN THE BUTT . THE BLAME RESTS SQUARELY ON THE WEAK , CORRUPT , HIPPOCRITICAL SHOULDERS OF OUR LEADERS , NOT BANKS OR LOBBYISTS . DON'T RE - ELECT ANYONE .

There are situations when the policy might lapse due to severe illness, etc. Prior to allowing your policy to lapse due to your inability to pay the premium, you could look into this option to sell your policy to a third party investor. It is not just banks doing this; small company investors are looking for people/investors to join together and develop this plan/program. Your investment could benefit you if the person died before their "determined" time. Sounds complicated? Supposedly done with a few simple forms, so beware before signing anything...as always!

I bailed Out of Wall street last year and will Never return. I suggest the best thing for this Country is to Dismantle Wall street. Forget Stocks. There are so many other places to put your money. Invest in things that you can enjoy, use, and sell for a Real profit. Stocks can Not do that

HELL NO! Not another penny will I invest with these Wall Street Thieves!

They have destroyed this country and put a stain on our country around the world.

WE will NEVER trust these companies and thieves again!

Wake up America!

A neighbor recently left his love ones in a Airplane accident. He had the best intention as advertised to us, he had life insurance to take care of the love ones in case of his death. Guess what, the airplane he died in did not qualify and the policy did not pay out.

Kathryn. How did this become Obama's plan?????