From: "Dr. Henry Jarecki" ‹ > To: 'Jeffrey Epstein' <jeeracationgginail.com> Subject: FW: AIG Date: Wed, 22 Sep 2010 21:47:30 +0000 From: Fred Tarter [mailto Sent: Tuesday, September 21, 2010 1:07 AM To: Dr. Henry Jarecki Subject: AIG The fact that settlements will soon be regulated by the SEC -- see below -- is good for the AIG deal, they conform to all of the regulations being discussed, once this asset class is recognized as a security it will be much easier to sell groups of them as bonds.... did you connect with Jeffrey? Fred +++ Life Settlement Investments Need to be Regulated Should sales of life settlements be regulated as sales of securities? After eighteen months of a comprehensive review, the SEC's Life Settlements Task Force thinks so, and has asked the SEC to urge Congress amend the federal securities laws to bring this about, according to a September 12 InvestmentNews article called "Point/Counterpoint: Are life settlements essentially securities?" A life settlement is a contract in which an insurance policyholder sells the insurance policy to someone else, who then assumes responsibility for paying the premiums. From the policyholder's point of view, the purpose of the transaction is to allow a policyholder to cash out of the policy for an amount greater than the cash surrender value but less than the death benefit. From the purchaser's point of view, it is an investment in the promise of a death benefit payout, similar to a zero coupon bond with an uncertain "maturity" date, and the key is not to pay too much for it. Proponents of amending the federal securities laws to define a life settlement as a security point to the following benefits: EFTA00756049