[groanup]

"What's to stop a CFO from waltzing into the local ICUs, and hiring on the ward and then taking out 1 mill a pop"

ICU patients are uninsurable. Companies have an insurable interest in their employees. The use of COLI (corporate owned life insurance) is simply a way for companies (the owners of the policies) to shelter taxes both by letting the cash value accumulate tax-deferred and by not surrendering the policies (taxable) but borrowing the cash value out (tax-free). Also the companies receive the death benefits. THE WHOLE SCHEME IS A WAY TO MAKE MONEY AND AVOID CONFISCATORY TAXES. IT HURTS NO ONE.

[Reeses]

I wonder how Congressmen would feel if the Executive Branch took out $10 million dollar life insurance policy on everyone in Congress, to help the American People recover from any tragic loss. You'd see a law passed against this practice in 10 minutes.

[bvw]

Mixing real apples and wax apples in the same bowl of a paragraph. (I remember one day biting into someone's fake-apple out of a beautiful bowl on a nice table in a very nice sunroom a nice home of a woman my dad was visiting. Yikes! She shreiked as loud as my teeth grated on that bastard thing.)

THE WHOLE SCHEME IS A WAY TO MAKE MONEY AND AVOID CONFISCATORY TAXES.

Okay, that's a statement of fact, or close enough in all purposes to be accepted as one.

IT HURTS NO ONE.

This is opinion passed as fact. Not even opinion, really -- just a fancy, a wished for belief. Opinions have stronger roots.

More likely -- and the article suggests so -- that harm is being done. You just are chosing to be ignorant -- why don't you go and look into it, being as you may be invloved in the business close enough to assay the situtation under a diligent reckoning. Don't allow the prejudice of current status quo and business ways to guide you completely though -- be open to the counter argument. Be thorough.