The Grim Reaper Stalks DC
The life settlement business is about to get a grilling from the folks on Capitol Hill.
We’re told the Senate’s Special Committee on Aging will hold hearing on April 29 to discuss life settlements and potential abusive practives in that fast growing industry. The witness list isn’t out yet, but it should be in the next few days.
Life settlements, the purchase of unwanted life insurance policies by speculators and investors, is something we’ve written about a lot at Unstructured Finance. In recent years, Wall Street banks and hedge funds have been eyeing life settlements as so-called uncorrelated asset that isn’t impacted by fluctuations in the prices of stocks, bonds or commodities.