BIG BANKS RECEIVE MILLIONS OF BUCKS EVERYTIME A SOLDIER DIES

Insurance is not why wars are continued and expanded. But yes it is a disgusting practice. However we are dealing with a volunteer military. They have made their choices.

This would be why you will not hear me say asinine things such as "God bless the troops".

And omnipotent, omnipresent, omnibenevolent, omniscient being is not going to bless someone who lived in a first world country with many opportunities yet decided to enlist in a military to kill poorer and relatively defenseless people for imperial interests.

the governors need to recall the guard from iraq and afghanistan to come clean up the oil with hay

then they need to recall the regular soldiers to there respective states, too.

The owner of a life insurance policy has to demonstrate that he or she is dependent in some way on the person whose life is being insured. This is known in the business as the "insurable interest" doctrine and has origins in common-law practice

Couldn't have said it better myself.

Ridiculous

Yeah sure. DEATH MACHINE SHILL.

nope,

it's (officially) called DEAD PEASANT LIFE INSURANCE and there've been cases where Corporations have taken out such on their Employees, employee dies, family get nothing, corporation is rolling in cash.

there are some who suggest that DEAD PEASAN LIFE INSURANCE played a major role in the 'war game that went live' we know as 9-11

[link to abeldanger.blogspot.com]

No link. BULLSHIT

[of course its true anyway]

look at it this way fools, corporations make money off of prison inmates. this country was founded not on guns god and glory but on opium tobacco cocaine and slaves(still to this day one could easily argue). get a grip.

Last Edited by caprichan on 05/07/2010 04:12 AM

The supreme court case Grigsby v. Russell established that life insurance benefits may be assigned to other parties, without an insurable interest. The life settlement industry used this case as a legal basis for the creation of a multi billion dollar STOLI death bond industry.

You BS flag wavers are all the same. Lazy assholes who can't take just five seconds to do a net search for themselves.

Here's a link for you. It took five seconds to find.

No wonder America is so fucked up...everyone is lazy.

[link to moneycentral.msn.com]

watch it with the wide sweeps.....

if their choice is to be poor and in a school designed to keep them from being accepted to college and then giving them a career option, such as the military then I guess your right.

Well when I was in I never worked for a big box company. Ummm neither have my three who serve now. So fuck me a running, I guess if they die I get the fucking blood money. Or their wives and children, I would suppose.


But if this is true about the banks, then so be it! It is just one more niche in their belt for demise!

College and Military are convienient ways to prevent yourself from doing good ...

OMG, I've never heard about this.

How can someone find out if someone else has life insurance on them? Shit, isn't such a thing an invitation to MURDER?

Purchasing life insurance policies on non-essential employees is a common corporate practice, one referred to in the insurance industry as "Dead Peasants" insurance.Sunday Oregonian, April 28, 2002, "Dead Peasants May Return to Haunt PGE": "Dead peasants are corporate-owned life insurance policies that companies – from Walt Disney to Nestle to Portland General Electric – take out on their own employees while designating the corporation as the beneficiary. That delightful epithet, The Wall Street Journal notes, originated in a 1996 memo from one of Winn-Dixie's insurance consultants, who barked, 'I want a summary sheet that has ... the Dead Peasants in the third column.'"
National Law Journal, February 2, 2009: "Bank of America Corp. officials issued a statement acknowledging that the company uses BOLI policies and asserting that they are legal. 'The bank does have this type of insurance in place. It is a legitimate business practice used by many companies. And, like many companies, Bank of America uses this insurance to help defray the cost of employee benefits,' said Bank of America spokesperson Shirley Norton. She would elaborate no further."
Wall Street Journal, April 19, 2002: "Wal-Mart Stores Inc. took out COLI [Corporate Owned Life Insurance] on about 350,000 of its workers in the 1990s, offering $5,000 in life insurance to those who agreed to be covered. Only 500 asked to be excluded, a spokesman says. The brochure that Wal-Mart gave to employees noted that the company would provide the benefits 'as a result of financial gains from life insurance policies Wal-Mart will purchase ... [that] will result in the financial benefits for the corporation.' But the brochure didn't make it clear that the company expected to receive a benefit far outstripping the death benefit it offered workers. 'We could have communicated more,' a Wal-Mart spokesman says now. In 1998, the company canceled the $5,000 benefit for workers ... Wal-Mart says that it ended its janitors coverage by January 2000, and that it no longer receives death benefits when employees or former employees die. The company says it 'has substantially resolved' all COLI-related issues with the IRS. 'We were looking to reduce our corporate income taxes,' the spokesman says. 'That's really why we did it. ... It was a tax strategy that didn't work out as expected.'"
Houston Chronicle, June 7, 2002, "Dow Chemical Is Accused of 'Dead Peasant' Insurance": "Several other companies -- including Camelot Music, Winn-Dixie and American Electric Power -- also sued the IRS over the issue of deductions. In those cases, the IRS successfully proved the expenses were made solely to avoid federal income tax liability."
Wall Street Journal, April 19, 2002: "Valued Employees: Worker Dies, Firm Profits; Why? Many Companies Insure Staff, Yielding Benefits On Taxes, Bottom Line; Where to Put Dead Peasants"
National Law Journal, February 2, 2009: "[John] Failla [a partner in the litigation group and insurance recovery practice at New York's Proskauer Rose,] who advises business policy holders on insurance matters, noted that, despite all the litigation surrounding COLI policies, they're still wildly popular, accounting for more than 20% of life insurance policies written every year. 'Look, COLI is a very, very active market," Failla said, "I think it's fair to say that they're writing billions of dollars a year of face amounts ... I think the statistics I've seen suggest that, even now, a quarter or more of the largest companies have COLI programs.'"

Wall Street Journal, May 20, 2009: "In December, Irma Johnson accidentally received a check for $1.6 million, from Security Life of Denver Insurance Co., payable to Amegy Bank. According to a lawsuit Mrs. Johnson filed in February in a Houston state court, in 2001 the bank told her husband, Daniel Johnson, a credit risk manager who had survived two brain surgeries, that he was eligible for supplemental life insurance of $150,000, if he signed a consent form authorizing the bank to purchase an insurance policy on his life. Four months later, the bank fired him. Mr. Johnson died from a brain tumor at age 41 in 2008. His widow and two young children received no life-insurance benefits, which the bank had canceled when Mr. Johnson left."
Houston Press, July, 2009: "... Johnson's attorney, Mike Myers ... told [the reporter] that, during the discovery process, he found out that Amegy had allegedly taken out two policies on Johnson. Thus, with the second, alleged $3.1 million policy, the amended suit says Amegy made $4.79 million off a dead employee."

SO TELL me, moran, WHO was paying the premiums on those insurance policies, and WHY would a bank ISSUE one to a soldier (Banks are NOT insurance companies in any case, and CAN'T issue a policy!!!) that is in a combat zone?

In YOUR version, the Bank would be PAYING ITSELF. WHERE is the fucking profit in THAT??

ESPECIALLY when the Government ALREADY HAS policies on those soldiers?

TELL me what kind of asinine theory YOU have as to the back story..

I'm WAITING, moran.

Plus many in congress and such profit large from the wars

I heard about this on the Alex Jones Show on Wednesday when a caller mentioned it, however, if one takes a look at Page 42 of the October 2009 Harper's Magazine, they will see the tail end of a story called "Too Big To Burn" about battling fires in California and the AIG insurance connection. NOTHING at all about insuring "troops" for $2 million a head. If this is "true", we need a REAL source, not hearsay. I don't doubt that something like this IS going on given how our world REALLY works, but I have yet to see published proof of it and the original source has proven false.

Link: [link to harpers.org]

are you sure about that? just asking because we have it on pretty good authority (me and GW) that god does.

Proof still needed. Anyone have a RELIABLE source for this? Please see my comment above (2 comments higher)

But if they weren't volunteering, the Government would just start a draft to provide bodies for the machine.

Not defending the moron, (note the spelling) but as most big businesses especially the banking industry have written the laws that govern them, I could see where a bank pays the premium, then if a soldier dies they pay themselves out of their profit, reducing taxable income, and because money received from insurance payouts are not taxable they have a way to hide that money and it's taking directly by bigwigs.

So if your employer offers a small death benefit if you die, you can assume they are making a fortune on your death.