JPMorgan Chase Bets $10.4 Billion on the Early Death of Workers

I always thought that if you worked for an employer, that employer had to take out insurances.
I never dreamt that an employer could hold a life insurance policy on any employee...the mind boggles.

I have just been reading the article and if you look around the page, JPMorgans name comes up a lot, for various reasons, none of them good reasons I might add.

Anyway read on. If this is posted in the wrong section mods, feel free.

I had to add the link for Bats in the belfry, as an extension the thread I presented on HFT. Things are really going to s%#t for the swindlers, ain't they.

Families of young JPMorgan Chase workers who have experienced tragic deaths over the past four months, have been kept in the dark on many details, including the fact that the bank most likely held a life insurance policy on their loved one – payable to itself. Banks in the U.S., as well as other corporations, are allowed to make multi-billion dollar wagers that their profits from life insurance policies on employees will outstrip the cost of paying premiums and other fees. Early deaths help those wagers pay off.

wallstreetonparade.com...

Sudden Deaths of JPMorgan Workers Continue

Kenneth Bellando, age 28, was found outside his East Side apartment building on March 12 in what the New York Post is calling “an apparent suicide” despite an ongoing police investigation into the matter. The building from which Bellando allegedly jumped was only six stories – by no means ensuring that death would result – providing the police with an additional reason to investigate for foul play

wallstreetonparade.com...\

Russia says JPMorgan 'illegally' blocked embassy money transfer

MOSCOW (Reuters) - Russia accused U.S. bank JPMorgan on Tuesday of "illegally" blocking a payment from one of its embassies to an insurance agency "under the pretext of anti-Russian sanctions."

In a statement on its website, the Russian Foreign Ministry suggested the action, which it called "unacceptable, illegal and absurd," would have consequences for the U.S. embassy and consulate in Russia.

One of the highest profile confrontations yet over U.S. sanctions, the move may increase tensions between Washington and Moscow and add to U.S. companies' nervousness over doing business in Russia.

wtaq.com...

BATS in the Belfry: Charges Fly on CNBC Over Rigged Markets

During this past Sunday evening’s 60 Minutes segment on how high frequency traders in combination with stock exchanges selling high-speed access have rigged the stock market, one stock exchange was called out by name: BATS. The program explored charges made in bestselling author, Michael Lewis’ new book, “Flash Boys.”

Yesterday, the President of BATS Global Markets, Inc., William (Bill) O’Brien appeared on CNBC to debate Michael Lewis and the young entrepreneur featured in his book, Brad Katsuyama, who has opened the IEX trading platform that promises to level the playing field by putting in speed bumps that slow down high frequency traders.

There was a scheme awhile ago where someone was actually selling these investments to people, or was he doing the same thing but with random people? Can't remember.

In any case, this kind of thing should not exist. A worker is not a family member and a corporation is not a human being. This whole personhood of corporations is BS. Anyone can start a corporation, but if you did the kinds of things the large ones consistently do you would simply be arrested and thrown in jail.

keenasbro
I never dreamt that an employer could hold a life insurance policy on any employee...the mind boggles..

It's just pure genius,,,they are economic Einsteins ....what could be better for society than sitting behind your desk all day & making billions waiting for people to die....

It takes a special kind of sickness to dream this stuff up,,,sorta makes ya feel warm & fuzzy all over....

reply to post by Blowback


Bet you $100 that JP Morgan employs Fatal Accident Facilitators.
$10.4b Is a-lot of Employees.

reply to post by keenasbro


I wonder if the 'suicide' bankers lives were insured?

Hmmm ... could JPM and the like be 'suiciding' employees for the insurance pay-outs?

They wouldn't, would they?

they pobably sliced and diced those policies and packaged them up and sold them off!
like they do everything

www.washingtonpost.com...

reply to post by keenasbro


Yeah, it's called "Dead Peasants Insurance". Isn't that a peach? It was originally intended to be used to cover key employees as the deaths of a CEO or CFO have a tendency of causing stock valuation to fall (any change in the executives may do that). However, once it was permitted, its actual use basically spread to many workers of major corporations--not just banks--that really stretch the idea of a "key" employee.

It's not just the banks that do it. A lot of corps do it though it really is pretty disturbing in my opinion and even more disturbing is that, even if the employee leaves the company, the corporation can continue holding that life insurance policy. JP Morgan is one of the largest employers in the US, employing at nearly a quarter million. Odds are, many of these employees are covered by dead peasants insurance as well as former employees.
abcnews.go.com...

reply to post by doobydoll


Suicide tends to nullify an insurance payout as, if someone was able to leave behind a large insurance payout to their loved ones by their death, then we'd have a lot higher of a suicide rate. For someone struggling with depression due to environmental factors such as money, it'd be just one more thing pushing them to do it.