Ghosts of Avarice Past
I like many of you thought we had lived past of the avarice, insensitivity and just plain greediness displayed as the financial meltdown was unfolding. Astonished by those who genuinely feel they deserve the millions and even billions in compensation their companies awarded them. Astonished but not surprised. I guess we were all like children, noses pressed against the store window as life styles’ of the filthy rich were paraded before our eyes via the media; all of us wishing we could experience that kind of filth.
Enron was the harbinger, Bernard Madoff the tombstone to this financial Armageddon. Their behavior exposed 60% of the world’s financial markets with total destabilization or complete destruction.
Next we see Martin Shkreli a generation X member displaying insensitive corporate governance spiked with naked greed. Bad behavior concerning money is repeated hourly across all ages, races, nations’, religions and politics. It is not the money it self but the drive of humans to grab enough for ones self that initiates the dishonest thoughts and behavior. There are rules in society that regulate how financial gains should be achieved. The rules one follows to reach their own pot of gold are open to individuals interpretation of ones own morale code.
Heather Bresch presents a new challenge a CEO seemingly doing good for her company but a move that may cause a child or adult their life. Her salary increased by 600%, the cost of that life saving drug increase 400%. The company admitting the cost of manufacture of a single dose $1.00. The reason for a rise in the price pegged to insurance costs increases’. Where did the other $399 dollars go? This behavior is demonstrated and applauded in Donald Trump.
The blame surely falls on the ACA. This quick answer begs closer scrutiny and eventually profit is revealed to be the basis for the increase. Every one again pointing the finger at the ACA, a program designed to give minimal coverage to the most health care deprived portion of our population.
The question remains what should be considered a reasonable profit. Does the term “what ever the market will bare” mean some will live and some will die? Die because a cure is put financially out of reach for those who need it, their need is considered below a company’s need for higher profit revenues.
Strange the congress had a proposal to make negotiated pricing part of the ACA. But lobbying by the pharmaceutical companies killed that. Republican substituted their Do-Nut whole plan that leaves individuals vulnerable if they are unfortunate enough to need very expensive medications.
CEOs’ view themselves in mirrors that reflects the myth of how they want to be seen not the truth as they appear to the world at large.
Richard Nixon once commented how very proud of Pat, his wife’s, plain Republican cloth coat. The coats Republican wives are wearing today have inflated prices from designers who have a very high opinion of themselves and little respect or care for the people who buy them. High fashion clothes designers, pharmaceutical manufacturers and Republicans have the converging attitudes about the public.
Enjoy the indignation on display, the trumpeted outrage as they pound the desk for the camera. It all goes away when the spot light swings in another direction and then its back to business as usual.