Posted at PSLweb.org:
By: Sarah Carlson
The capitalists will never learn, nor will they relent on their heartless exploitation of the working class in this country. They constantly look for new ways to expand their exploitation so as to expand their rate of profit.
Wall Street’s new plan to make super-profits is eerily similar to the speculative investing that sparked the current economic crisis. According to the New York Times, instead of buying up and bundling mortgages, financial institutions now want to buy up and bundle the life insurance policies of ill and elderly people.
The article describes the benefits of “financial innovation” and the disadvantages of risky investments in a shaky economy. Luckily for Wall Street investors, “Goldman Sachs has developed a tradable index … enabling investors to bet on whether people will live longer than expected or die sooner than planned.”
Wall Street’s new plan reflects the pure callousness of the capitalist system. Now the bankers want to profit off betting on sickness and death.
If the health insurance companies love Obamacare so much, why are they pumping millions into the pockets of Republican and Blue Dog (or Blue Cross as some of us like to call them) Democrat congress people not to mention the the anti reform advertising. Confusing isn’t it?
Well, the insurance companies are betting on your health, and have been for many years. They are betting that most people will stay healthy; you are betting that you won’t. That’s why the insurance companies love Obamacare with it’s mandatory coverage provision; they’ll get millions more healthy customers, and healthy profits.