{"id":204,"date":"2007-07-26T20:41:39","date_gmt":"2007-07-26T20:41:39","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/07\/viaticals_ghoulish_wall_street_1"},"modified":"2021-09-20T15:41:16","modified_gmt":"2021-09-20T20:41:16","slug":"viaticals-ghoulish-wall-street-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/viaticals-ghoulish-wall-street-1\/","title":{"rendered":"Viaticals: Ghoulish Wall Street Even Seeks to Profit on the Dying"},"content":{"rendered":"

\t\t\t\tWhat do Bear Stearns, Deutsche Bank, Lehman Brothers, Merrill Lynch, UBS, Wachovia and Wells Fargo and other big securities firms have in common? No conscience. For decades we have thought that Wall Street will do anything for money. Now we are sure. <\/p>\n

Two years ago, about 250 people attended an event in New York to discuss yet another exotic product to come out of Wall Street. This spring, as the subprime mortgage market was crumbling, nearly 600 representatives of most largest players in the finance industry met to talk about the product, one they could sell investors which had enough pricing difficulty that large mark-ups could easily be generated. That product is “death bonds.” <\/p>\n

In brightly lit rooms with a festive atmosphere, the wizards of Wall Street discussed how they could profit off diseased and dying folks who happen to have life insurance. Death bonds are securitized products which, instead of mortgages, are backed by life insurance policies. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

What do Bear Stearns, Deutsche Bank, Lehman Brothers, Merrill Lynch, UBS, Wachovia and Wells Fargo and other big securities firms have in common? No conscience. For decades we have thought that Wall Street will do anything for money. Now we are sure. Two years ago, about 250 people attended an event in New York to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-204","post","type-post","status-publish","format-standard","hentry","category-viaticals"],"yoast_head":"\nViaticals: Ghoulish Wall Street Even Seeks to Profit on the Dying — Investor Lawyers Blog — July 26, 2007<\/title>\n<meta name=\"description\" content=\"What do Bear Stearns, Deutsche Bank, Lehman Brothers, Merrill Lynch, UBS, Wachovia and Wells Fargo and other big securities firms have in common? No — July 26, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/viaticals-ghoulish-wall-street-1\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Viaticals: Ghoulish Wall Street Even Seeks to Profit on the Dying — Investor Lawyers Blog — July 26, 2007\" \/>\n<meta name=\"twitter:description\" content=\"What do Bear Stearns, Deutsche Bank, Lehman Brothers, Merrill Lynch, UBS, Wachovia and Wells Fargo and other big securities firms have in common? 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