they have found it with a ghoulish scheme gambling on death, by repackaging life insurance policies sold for a fraction of their worth by sick and desperate elderly people. Once people die, the investors make money. And it’s much more profitable if you die sooner rather than later please.
The concept of so-called securitized-viaticals is not new, but what’s different now, is the scope and large-scale bundling of the securitized life settlements into bonds.
Wall Street is scooping up the policies from the life settlement companies and repackaging them into securitized bonds, with the seal of approval of a Triple-A rating from a bond-rating agency to attract investors.
Meet the new boss
Same as the old boss..............