Thread: News Stories
View Single Post
Old 2009-09-06, 21:06   Link #3822
Senior Member
Join Date: Mar 2003
Location: China
Originally Posted by mg1942 View Post
Did Glen Beck had anything to do with this....?
/me shrugs. There have been several public officials who recently, opened their mouths and stuffed their feet directly inside. In a reasonably democratic/republic state, you're bound to get people disagreeing with one politician vs another, and everything you say or do (no matter how long ago that was) can come back to haunt you. Barack Obama does not need a controversy ATM when he is already facing worries over the economy and healthcare - not to mention the upcoming 2010 elections that will affect the 2nd half of his term. A smart guy would, IMHO, offer to resign and collect an IOU from him for the future instead of, say, being forced out.

Glenn Beck has been under fire recently for his words, and I wouldn't be surprised to hear his being forced out soon. OTOH, if that happens, he'll just be rehired somewhere else. In the end, controversial figures, esp. in the "talking heads" area, sell.

Wall Street banks looks to life insurance bundles
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 Wall Street jargon, by packaging hundreds or thousands together into bonds. They will then resell those bonds to investors, like big pension funds, who will receive the payouts when people with the insurance die.
Scary idea, IMHO. By securitizing these into tranches of degrees of riskiness, the idea is to protect investors, but given their history (related to MBS anyway), I find it hard to believe that this will come out any better - unless you put up massive amount of cash reserves, for one, to ensure your tranches' ratings are valid, though.
"If ignorance is bliss, then why aren't more people happy?" -- Misc.

Currently listening: Nadda
Currently reading: Procrastination for the win!
Currently playing: "Quest of D", "Border Break" and "Gundam Senjou no Kizuna".
Waiting for: "Shining Force Cross"!
LynnieS is offline