someone, please put these bakers in jail...........from moneymorning........
"After betting trillions on everything from liar loans to mortgages that never should have been issued in the first place, the big banks are back and they're betting on death - yours and mine.
It seems that Goldman Sachs Group Inc. (NYSE: GS), JPMorgan Chase & Co. (NYSE: JPM), Deutsche Bank AG (NYSE: DB) and others now want to help securitize "longevity risk" through a newly created derivatives market.
I don't know whether to laugh or cry.
Here's the deal. The banks want to collect billions in fees from pension funds and other institutions by issuing insurance that will manage the risks associated with living longer than the financial planners planned"..........LINK
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