It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
It doesn’t get any more Orwellian than this: Wall Street mega banks crash the U.S. financial system in 2008. Hundreds of thousands of financial industry workers lose their jobs. Then, beginning late last year, a rash of suspicious deaths start to occur among current and former bank employees. Next we learn that four of the Wall Street mega banks likely hold over $680 billion face amount of life insurance on their workers, payable to the banks, not the families. We ask their Federal regulator for the details of this life insurance under a Freedom of Information Act request and we’re told the information constitutes “trade secrets.”
originally posted by: AutumnWitch657
Investors make money for the bank. They are protecting a source of income just like the family who insure a the bread winner. a reply to: Krazysh0t
Next we learn that four of the Wall Street mega banks likely hold over $680 billion face amount of life insurance on their workers, payable to the banks, not the families.
Then, last year, the Lake Worth woman got a letter, alerting her that Walmart benefited richly from her husband’s death.
Like hundreds of thousands of its other employees, the Arkansas-based discount giant had secretly taken out a life insurance policy on her husband when he worked as a department head in the garden center of its store on Forest Hill Boulevard, her attorneys said. Ronald Gaub’s death, they said, put between $75,000 and $150,000 in its pockets.
And it's pervasive, said Mike Myers, an attorney who has uncovered many of these cases and helped angry relatives sue. "Life insurance is traditionally used to guard against the death of breadwinners. This is an investment scheme," he said. Dozens of blue chip companies have these policies, according to Myers. But only banks are forced to reveal them, and several have billions of dollars worth of policies. "The driving force behind it is the tax deductions," he said.
Are 'Dead Peasant' Life Insurance Policies Fair?
originally posted by: Hushabye
a reply to: th3dudeabides
Don't suicides negate death policy rewards?