How The New York Stock Exchange, The Life Insurance Industry, The Sec And A Host Of Other Guardians
May, 1974
Equity Funding Corporation of America, a financial-services institution, began operations in 1960 with $10,000. Its "Product" was a new way to purchase life insurance. You bought shares in a mutual fund; you borrowed against that equity to pay your life-insurance premiums. In effect, you used your money twice--and if the stock market went up in the interval, you made money on the deal.By 1973, Equity Funding listed assets of nearly $750,000,000. It managed mutual funds and a savings an...
