Wall Street Gambles on Old People Dying

Goldman Sachs has developed a tradable index of life settlements, enabling investors to bet on whether people will live longer than expected or die sooner than planned. The index is similar to tradable stock market indices that allow investors to bet on the overall direction of the market without buying stocks.

Spokesmen for Credit Suisse and Goldman Sachs declined to comment.

via Back to Business - Wall Street Pursues Profit in Bundles of Life Insurance - Series - NYTimes.com.

New York Times

what the fuck??? wacky