…”Basically, they pool together a bunch of beneficiaries that will likely die around the same time, buy up their policies from life settlement companies, package them into securities and sell them to investors around the world.”…

So let me get this straight… Wall Street is to “pool together a bunch of **beneficiaries** that will likely die around the same time”… are you kidding me?

Instead of trying to copy and paste someone else article, why don’t you try to understand what you’re talking about first… the “beneficiaries” are not the ones who will die; the “insureds” will die, then, the investors collect.

believe me, wall street + obama health care = unnatural death.

to be blunt, obama is delivering the infirm to the jackals of wall street…i do not exaggerate on the complicity of murder. this is what it is all about.

It’s like signing your own death warrant. Since these companies are so unscrupulous as to underwrite these scams, what’s to stop them from forming death squads to go after seasoned citizens that don’t have living family members.

To bad the government didn’t think of this, it would give them a shield in their desire to thin the older animals in the herd before they have to pay out the medical expenses in the last six months of life.

I would be concerned for seniors with no family members that sign up for this along with reverse mortgages. A little carbon monoxide poisoning, maybe? A heart attack here or there? How many ways are there to kill a human without detection that would look like a natural death in a senior citizen?

Don’t want to sound morbid about it, but I wouldn’t trust anyone with my life at that age.

I (very briefly) worked for a firm involved in this securitization process. I was the monkey responsible for the first audit of the paper work, shuffling forms, entering policies into the computer, etc. We were a middle man. See, the company would solicit wealthy and elderly people and offer our services. They would take out insurance policies and we would buy them or we would buy their already existing policies. Then we would split them into tranches and hopefully sell them off to other companies asap so we wouldn’t have to pay the premiums for long. But also, and this wasn’t given as a reason, because we didn’t want them to blow up in our face and/or take a chance on grandpa making a disasterous and unexpected recovery. I was (and still am) just your average moron but I remember how the entire process just didn’t make any sense to me. The mind was repelled as they say. Although the place was my source of income and was populated with a number of cute girls, I was quite happy when they fired me.