When he planned to steal our sunlight, he crossed that line between everyday villainy and cartoonish super-villainy.
- Smithers
Before I read today's New York Times, I felt slightly superior to people who ascribed evil motives to, for instance, Goldman Sachs. Business cares about making money - it doesn't make moral judgments. But, as today's Times article proves, there's no practical difference between being amoral and being immoral.
Some Wall Street banks, apparently, are planning to securitize viatical settlements thereby creating a way to invest in the probability that other people will die. Presumably, you could even speculate on the likelihood of your own death.
What if your pension fund were to invest? The risk factors should be a hoot, too - "in the event that AIDS is cured, you could lose your entire investment."
Wednesday links: larger market trends
11 hours ago
Imagine if you will the plot of a Robert Ludlum thriller. Seemingly random, unconnected deaths in retirement communities, the career of a married medical researcher on the verge of finding a cure for A.I.D.S., Alzheimers and cancer goes up in flames, when videos of him frolicking with coeds in a hot tub are posted on YouTube. All the while, DeNiro as Louis Cypher smiles a devilish grin from his corner office overlooking the street.
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