Sunday, September 6, 2009

Once Evil and Stupid, Now Evil, Stupid and Creepy

The New York Times reported yesterday that the bright and shining fellows who brought us our present economic predicament have hit upon a new way to part Americans from their meager resources. Having trashed our tiny retirement accounts, the equity from our homes and taken our jobs, they've set their sights on the only thing left--our life insurance. Yes, if you have life insurance and are elderly and/or sick, you can sell your policy for cash, whereupon it will be securitized and sold as bonds.

Aside from the general creepiness of this idea, I'd wish that the banker types would figure out that there's no more to get here and they should move along and try tapping into people with actual resources.

No comments: