Comments on: Betting On Tulips And Houses Is So Passé…How About On Death?

By: DLS

DLS — Tue, 08 Sep 2009 21:46:11 +0000

This, offered by the same banks and other financiers currently consolidating and reforming at the behest of the Obama administration (as well as reviving “death panel” concerns among the more intelligent and moral, interestingly). Why is this a surprise?

Also, why wouldn't it happen, if not enough reverse mortgages (or annuities) are being purchased to satisfy the financial wizards? Maybe Robert Wagner will begin advertising these new “death bets.”

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By: JeffersonDavis

JeffersonDavis — Mon, 07 Sep 2009 09:37:06 +0000

Isn't this just another example of why I don't want the insurance companies, pharmaceutical companies, and/or the government making my healthcare choices for me?

To quote "The Waterboy".....
Insurance companies "are the de-bul".
Pharmaceutical companies "are the de-bul".
Government, too, "is the de-bul".

Very nice article, Mr. Fishman. Thanks.

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By: Jim_Satterfield

Jim_Satterfield — Sun, 06 Sep 2009 22:43:10 +0000

One of the things that confirmed my doubts about the validity of that tendency and how it affects publicly held companies was a few years ago as I was in the car driving over to pick up some computer equipment. In the same business news segment they reported that Abbott Laboratories was reporting record profits and that they were firing 7,000 people. These firings included many researchers. In other words, to boost the stock price even higher they were getting rid of the people who will shape the long term health of a pharmaceutical company. I just thought that was nuts.

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By: Betting On Tulips And Houses Is So Passé…How About On Death?

Betting On Tulips And Houses Is So Passé…How About On Death? — Sun, 06 Sep 2009 21:38:17 +0000

[...] News Sources wrote an interesting post today onHere’s a quick excerptThis sort of thinking is exactly what we need to turn things around. After the mortgage business imploded last year, Wall Street investment banks began searching for another big idea to make money. They think they may have found one. The bankers plan to buy “life settlements,” life insurance policies that ill and elderly people sell for cash — $400,000 for a $1 million policy, say, depending on the life expectancy of the insured person. Then they plan to “securitize” these policies, in Wal [...]

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By: Betting On Tulips And Houses Is So Passé…How About On Death?

Betting On Tulips And Houses Is So Passé…How About On Death? — Sun, 06 Sep 2009 21:29:25 +0000

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By: mikkel

mikkel — Sun, 06 Sep 2009 19:36:54 +0000

Jim, I see that as a major political problem, perhaps one of the defining problems over the next few years. For instance there are predictions that companies may rake in enormous profits this quarter due to the large scale layoffs and highly negative income growth (the official amount is positive but only due to minimum wage increases). I am still waiting to see how Sept plays out and am pessimistic about the stock market in general, but there is increased evidence that it maybe be correct based on how much company profits will rise.

Of course everyone is forecasting that eventually employment and consumer spending will show its historical increases, even though there is tons of evidence that they may (and should) not. I worry that the topline increase will make people believe the problem is over and start ignoring the massively poor state of the labor market, which sets us up for a larger whammy down the line.

By: Jim_Satterfield

Jim_Satterfield — Sun, 06 Sep 2009 18:33:30 +0000

Thank you, mikkel, for an interesting and balanced article concerning the problems with Wall Street's current mode of operation. Could we discuss the wisdom of how Wall Street rewards companies that have massive layoffs even though they know that 70% of our economic activity comes from consumer activity and that a constant drumbeat of news about firings (Let's not use that gentle and misleading term layoffs since the original use of that word used to mean that some people would be coming back.) both results in people having less money to use to purchase things and has bad effects on the consumer confidence of those who are still employed? That model always bugged me.