Martens: Ghouls of Wall Street - JP Morgan Bets BillIons On the Death of its Workers

http://jessescrossroadscafe.blogspot.com/2014/03/martens-ghouls-of-wall-street-jp-morgan.html
IF the Banks are self-insured, and IF they are offering death related benefits to the employees for which this employee insurance is strictly a hedge, then this might make some moral and legal sense. But it does not appear to be the case.
And certainly for years companies have taken out life insurance on key employees, whose loss would be a blow to the company, as the article acknowledges.  But they go on to point out that this program is not related to key employees, but is widespread, and continues on even after they leave their employment with that firm.
It seems that there is some perverse loophole in the tax laws and insurance calculations that makes it profitable for a corporation to 'bet' on the early deaths of its employees, for its own profit, as this article implies, and not as any hedge against the loss of their talent. 

Last one out shut the lights off...