"But even beyond that… what the fuck??? This feels like financial innovation as practiced by Josef Mengele meets the Zucker Brothers; not just evil, but wacky evil. I don’t even want to think about what happens when Goldman Sachs suddenly has a large financial stake in the premature deaths of a bunch of old people. Where are the crazy police? Where is the crack federal crazy squad with the big butterfly net? I don’t know about betting on anyone’s life expectancy, but I think I’d like to bet on whether or not this idea ends well."
-- Matt Taibbi on a new Goldman Sachs initiative which involves the creation of a tradable index of life settlements, allowing the bank to bundle life insurance policies together and sell them to investors who would essentially be allowed to bet on whether the policy holders will live or die
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