tag:blogger.com,1999:blog-5207550747227359267.post3486532512670198463..comments2024-03-13T09:26:30.351-04:00Comments on PunkPatriot.com: Matt Taibbi: Wall Street Is Now Gambling on Grandma's DeathThe Punk Patriothttp://www.blogger.com/profile/02671149620207872986noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5207550747227359267.post-13639475316068293052009-10-07T10:19:49.483-04:002009-10-07T10:19:49.483-04:00Since i work in the insurance industry i can tell...Since i work in the insurance industry i can tell you our eye is very close to this new trend. actually as a company we are just now reorganizing our mortality tables to be more competitive with our direct competition. <br /><br />you were talking about end cosequences so here is what i forsee: the biggest issue with gambling on death is the battle between accurate actuarial measurment, advancement in health care, and inflation. like you pointed out, this scam is all aobut money now! (sounds oddly familar). The people selling their policy often aren't taking into account all the consequences of releasing their contract to a bank - like mortgage buyers duped into tricky loans. then the investors into the life insurance pool aren't investigating the fine details of the contracts they have with the banking institutions. while they give money (pre inflation dollars) to the banks now, the banks don't have to pay until later. if the banks actuarial numbers are off even just five years the effect on the investment is dramatic. once again the big banks in this country have cooked up another methlab type scheme to get profits now. we can only hope this drug lab gets shut down before it blows up.J.https://www.blogger.com/profile/09559178916212076968noreply@blogger.com