In banking and investments, where the tide turns faster than expected, GWG Holdings news made a big splash. Let’s walk down memory lane. Remember when GWG Holdings debuted? Everyone talked about this new kid on the block, a corporation that seemed to have mastered the life insurance secondary market.

We buzzed around our coffee machine in the workplace, speculating about GWG’s next significant move. See, they bought life insurance plans at a bargain and profited subsequently. Didn’t it sound movie-like? We were initially suspicious, but they proved us wrong—at least temporarily.

Early on, it was like seeing a rocket launch. GWG started well in 2006. We heard about their innovations at industry conventions like bees circling a hive. They followed a simple but excellent strategy: buy low, sell high, and manipulate policy like a conductor.

You know what they say when things appear too good to be true. Cracks appeared after a few years. Around 2015, we heard stories of financial trouble that seemed out of character for a corporation on such a fast rise. It was like seeing a bird fight to fly.

The water cooler buzz tone changed. We discussed delayed financial reports and rising losses. It was like a suspense thriller, with each revelation adding to the mystery. What happened at GWG Holdings behind the scenes?

The pandemic arrived in 2020. It was like an unexpected hurricane. GWG buckled under the pressure, as did other businesses. We huddled around our screens during interminable virtual sessions to make sense of it. GWG reported a downturn in their revolutionary concept due to exceptional times.

GWG was in trouble by 2021. Their financial problems were a hurricane that wouldn’t pass. We were stunned as they defaulted on bonds. It shocked me like seeing a marathon runner fail before the finish.