Private Companies Are Misbehaving Again!

Posted: Apr 17, 2010 3:21 PM
Someone call Henry Waxman to haul their CEOs in front of Congress!

CBS News reports on a study which finds that insurance companies have invested money in fast food chains. Apparently this is a source of great outrage. Dr. Wesley Boyd of Harvard Medical School, the author of the study, "said health insurers should be held to higher corporate standards."

Apparently health insurers shouldn't be allowed to invest their money how they see fit. Even if the standard left-wing trope that fast food companies are the cause of horrendous obesity and health problems were true, who cares? The insurance companies are hedging their bets. If investments in fast food companies result in higher obesity rates and higher health care costs, this means the insurance companies are betting against themselves. The more obese people there are, the more medical care necessary, and the more that insurance companies have to pay out. Especially when they're not allowed to price based on health, as Obamacare now mandates.

Dr. Boyd says "the insurance industry, so far as it seeks to make a profit, it does so in an amoral way." I couldn't have said it better myself, Dr. Boyd. Not immoral. Amoral. Are we to completely destroy the profit motive now?

Of course, if the very act of investing in fast food companies is the cause of such pain and suffering in the world, we should just abolish fast food companies. ...well, forget I said that. I don't want to give the Democrats any ideas.

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