Document: JPMorgan Chase Bets $10.4 Billion on the Early Death of Workers

Pam Martens and Russ Martens wallstreetonparade.com Families of young JPMorgan Chase workers who have experienced tragic deaths over the past four months, have been kept in the dark on many details, including the fact that the bank most likely held a life insurance policy on their loved one – payable to itself. Banks in the U.S., as well as other corporations, are allowed to make multi-billion dollar wagers that their profits from life insurance policies on employees will outstrip the cost of paying premiums and other fees. Early deaths help those wagers pay off. According to the December 31, 2013 financial filing known as the Call Report that JPMorgan made with Federal regulators, it has tied up $10.4 billion in illiquid, long term bets on the death of a large segment of its employees. The program is known among regulators as Bank Owned Life Insurance or BOLI. to read more: wallstreetonparade.com