5-9-11: Wall Street and Your Death
It’s like “Death of a Salesman” Meets “American Psycho”: Elderly Americans cash out their life insurance policies to investors for a quarter on the dollar, and investors bundle the policies just like they did with mortgages.
Former federal regulator Michael Greenberger helps us understand why it may be in the interest of some people on Wall Street for you to die sooner rather than later.
Michael Greenberger is the director of University of Maryland Center for Health and Homeland Security. Hear what he has to say about foreclosures–both the law school’s efforts to prevent them, and what he considers the unconscionable treatment of military families in foreclosure: And here’s Greenberger discussing another Wall Street practice, called “mortality swaps”: