F. George McDuffee wrote:

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.


I thought pensioners in Germany were already burned on this scheme. If what I heard on
Rush is true, they (Germans) bet on Americans dying earlier than we are.



Wes