So the greedy Wall Street leeches (too harsh? I think not) have decided to go full throttle with a plan to place bets on the lives of other human beings. They are in the process of coming up with a scheme very similar to the sub-prime mortgage products wherein they buy life insurance policies from the sick and elderly, repackage them, and sell them as investments. They make more money when the policy holder dies than if they live so they have to hope for no cures for Cancer or HIV/AIDS.The idea of securitizing a product that is meant to care for one's family and final arrangements, and the knowledge that you make the most money when a human life is lost just seems I don't know...WRONG ON ALL LEVELS!!!!! But maybe I over react.
Could someone please explain the upside of this to me because I've read the entire article and nope, I don't don't see the silver lining. Am I missing something?
Check it out for yourself: Wall Street Pursues Profit in Bundles of Life Insurance
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