5 thoughts on “Taking Advice from Senator Grassley”

  1. Dan,

    1st of all, that is assuming there is a direct causal link between Mr. Kellerman`s deed and the present crisis. Seems probable but that is no proof.
    One French manager took his life last year because he had advised his clients to invest in Madoff. That is the only recent case I am aware off.
    Ivar Kreuger apart, the big players in fraudulent schemes do not usually commit suicide AFAIK.

    As Senator whatsisname I must say that the thing to do is to examine the pockets of those who shout “hold the thief”loudest. All this hysterical populism has its uses (like distracting the sheeple from real news) of course.

  2. Lol.

    I do have my own theory. My aunt died last year. I helped her kids do her 1041 – estate return. On her date of death she had a GSE bond that was valued at 10 cents on the dollar. About 5 months later her executor got a check in the mail for the entire amount she originally paid, so she ended up not losing a dime. I asked him if he sold it, and he said that he had not. The money just showed up one day. So I found her paperwork and the thing had a clause that said the owner’s estate would receive the principal back in total. If she had sold it on the day before she died, she would have gotten around 10 cents on the dollar. Dead, she ended up getting a dollar on a dollar.

  3. sonofsamphm1c,

    Hmm… do those contracts specifically exclude suicide?

    Presumably the life insurance policy itself is worthless, but depending on how such bonds were structured, his family may have done quite well…

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