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GG090911: Wall Street Ghouls

September 11, 2009

Wall Street Pursues Profit in Bundles of Life InsuranceA bond made up of life settlements would ideally have policies from people with a range of diseases — leukemia, lung cancer, heart disease, breast cancer, diabetes, Alzheimer’s. That is because if too many people with leukemia are in the securitization portfolio, and a cure is developed, the value of the bond would plummet. — Talk about the perversity of the profit motive! —

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