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New Exotic Investment Hatched by Wall Street Scumbags: Bundled Life Ins Settlements
- Thread starter ByLoSellHi
- Start date
Quote from maxpi:
I'd say this article referred by the idiot ByLO is a plant from the life insurance companies... they make more from their policies when the owners miss some payments.. they keep all the premiums and lose the liability.. when the original owner sells the policy to a professional invester, there never is going to be a missed payment... this has been ongoing for years, lots of people got older, had no reason to have life insurance any more because the kids were grown up and the spouse was either gone or in great financial shape so they can sell the policy for some long coin... it was a seller's market a few years ago but now the buyers are being more selective and not paying as much...
That's hilarious coming from you.
I'd say you're probably a low rung slave of Wall Street, so it's understandable you'd object to my pointing out the scumbaggery of Wall Street.
A couple of years ago, there were agents all over florida trying to sell these schemes during seminars for old people.
My Dad was solicited very hard.
They tried to hook him in by selling him the policy, using their commissions to pay for the first year to year in half of the policy. They said he might have to pay for about six months and then he could flip it out for 400 grand.
However, they did not put their offer in writing so my Dad said he would not sign.
My Dad was solicited very hard.
They tried to hook him in by selling him the policy, using their commissions to pay for the first year to year in half of the policy. They said he might have to pay for about six months and then he could flip it out for 400 grand.
However, they did not put their offer in writing so my Dad said he would not sign.
ByLo - you seem to have a knack for finding these articles. Why don't you create a blog other than ET where all of this stuff can be centrally posted?
Quote from scriabinop23:
ByLo - you seem to have a knack for finding these articles. Why don't you create a blog other than ET where all of this stuff can be centrally posted?
99% of them are front page Bloomberg articles - not that hard to find unless one is delusionally optimistic and myopic.
See, it took me less than 4 seconds to find this one on Bloomberg based on your prompting:
Equity Fund Outflows Surge, $4.29 Billion From U.S. (Update1)
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By Jonathan Burgos and Garfield Reynolds
Sept. 4 (Bloomberg) -- Investors withdrew a net $4.95 billion from equity funds and added $5.06 billion to bond funds in the week to Sept. 2, amid concerns about the strength of a world recovery, EPFR Global said in a report.
âThey struggled to make the connection between equity markets at 10 to 12 month highs and a global economy that has digested the bulk of the fiscal stimulus packages served up in recent months but continues to shed jobs,â wrote the EPFR...
Investors Pulled $4.95 Billion From Equity Funds Last Week, Added to Bonds
http://www.bloomberg.com/apps/news?pid=20603037&sid=a1xw4v9Kwxss
"new exotic investment"??? LOL. they've been around for over 10 years. i have owned some for nearly 3 years