Deadly Spin

The Book of the Week is “Deadly Spin” by Wendell Potter, published in 2010. This is a book that explains how health insurance companies engage in unethical behavior in the name of profit, that results in needless deaths in the United States.

It follows then, that serving as a top executive at a health insurance company requires sociopathic tendencies, favoring money over people. One reason the insurance companies are so obsessed with their bottom lines (aside from the greed of their top executives) is that they have to answer to Wall Street.

Potter worked for Humana and then CIGNA a combined approximately twenty years as head of their public relations departments. By the late 1980’s, Humana realized it had a conflict in running a for-profit hospital and a managed-care plan simultaneously. The hospital was more than happy to maximize the stays of its most lucrative patients, while the plan’s goal was to minimize costs through preventive health care– promoting wellness.

The author learned to play the game of maximizing his employer’s profits through fighting legislative changes to his industry; and protecting, defending and enhancing his employer’s reputation. For, there was a direct relationship between his employer’s profits and his raises and bonuses. He therefore emotionally detached himself from health insurance plan members, and focused specifically on actuarial tables and legalese to help him project an image of his employer as a reasonable,  if not caring participant in patient care.

Whenever a threat to his former employers’ profits arose, such as the movie “Sicko” or proposed legislation that financially favored patients, his former employers hired a big-name, monster-sized public relations firm, and secretly co-funded and co-founded a political front group, such as “Health Care America” that publicly pretended to favor health care consumers, but truly sought to maximize insurance industry profits. The group was a propaganda machine, and an object lesson in how to lie with statistics.

Other tricks of the trade include:  “…rescinding individual policies, denying claims, cheating doctors, pushing new mothers and breast cancer patients out of the hospital prematurely and shifting costs to consumers.”

Read the book to learn additional details of the hegemony of the health insurance companies. One interesting endnote: “Obama opposed any requirement that everyone buy insurance, one of the few points on which he disagreed with Hillary.”

My Autobiography, Charlie Chaplin

The Book of the Week is “My Autobiography, Charlie Chaplin” published in 1964.

Born in 1889 in London, Chaplin had a traumatic childhood. Both his parents were vaudevillians, but his father had trouble with alcohol; and his mother, with her voice. Thus, they found themselves unemployed. Their relationship suffered, and they separated. Chaplin and his older brother lived with their mother in a hovel. Unsurprisingly, his father failed to pay alimony and child support. Chaplin was pushed by his mother onstage beginning when he was five years old.

A commune known as a “workhouse” took in the family. The mother crocheted lace cuffs and the kids attended school. After two weeks, they were transferred to a suburban workhouse. Boys at age eleven were conscripted. So Chaplin’s brother entered the Navy. His mother, however, suffered from mental illness, and was institutionalized. Chaplin went to live with his father in a London slum.

At nine years old, Chaplin showed a true talent and passion for performing. His father got him into a clog-dancing troupe. Later, he lied about his age to get hired by an acting troupe. He had natural ability to play comic characters.

In autumn 1911, Chaplin by chance got into the then-silent motion picture business (only musical sound tracks– no talking), replacing another actor in Hollywood. It was then he created his Tramp character. He was allowed to try his hand at directing and writing, although the bosses of that period were still clinging to their tired “Keystone Kops” scenarios of slapstick chases. His fresh approach that evoked an emotional response became wildly popular among American audiences. He immediately became a legend. Once he came into his own, his brother became his business manager.

“Fulfilling the Mutual [film company] contract I suppose, was the happiest period of my career. I was light and unencumbered, 27 years old, with fabulous prospects, and a friendly, glamorous world before me.” Chaplin and his friends Douglas Fairbanks and Mary Pickford found out that the movie production companies were going to merge, lower the outrageous pay of actors, and take control away from them. So Chaplin et al formed their own production company, United Artists.

During a trip on W.R. Hearst’s yacht, the Hollywood director who had taken over Hearst’s film production company, had a heart attack. Chaplin wrote, “I was not present on that trip but Elinor Glyn, who was aboard…” told Chaplin about the episode. The ridiculous rumors regarding the director’s murder were false. “Hearst, Marion [Davies] and I went to see Ince [the director] at his home two weeks before he died.”

Read the book to learn a wealth of other details of Chaplin’s life, and why he moved to Switzerland with his family; get the explanation– straight from “the horse’s mouth.”

A Memoir According to Kathy Griffin – BONUS POST

The Bonus Book of the Week is “A Memoir According to Kathy Griffin” by Kathy Griffin, published in 2009.

This memoir described the comedian whose shtick consisted of telling humorous, embarrassing stories about members of the entertainment industry. Or, as she characterized herself: “… someone who gets fired, stirs up trouble, and gets debated about on CNN for saying bad things on award shows.” Kudos to her for being an honest, amusing attention whore. She must have brought in sufficient profits for the entertainment industry to tolerate her behavior.

Born in November 1960 in Forest Park, Illinois, the youngest of five children, Griffin grew up in Oak Park, Illinois. At eighteen years old, she moved to Santa Monica, California to be an actress. She apparently had the talent, drive and creativity to get famous.

In the early 2000’s, Griffin performed sufficiently well at the Laugh Factory in Los Angeles to double the length of her show to two hours. This allowed the cocktail waitresses to make sufficient money to pay their rent, “Plus they loved serving the gays, because they were well-dressed, respectful and tipped well.”

Griffin didn’t talk about Anna Nicole Smith right after she died out of respect. As Greg Giraldo would have said, “Too soon, too soon.” Griffin revealed deeply personal information– both of her parents were functional alcoholics, and her oldest brother was a pedophile and substance abuser.

Griffin tried to raise the alarm about her brother, but, as she joked– her parents thought “denial” was a river in Egypt. She admitted to two major errors in her life– poor judgment in both her marriage and in having liposuction. Read the book to learn the details of this and other episodes.

SERIOUS ENDNOTE: Griffin had no qualms about making political statements unrelated to the awards shows she attended. It is therefore not inappropriate to make a political statement unrelated to Griffin’s book, below.

This nation seems to be in denial about the amount of debt load currently carried by not only individuals and businesses, but by the federal government and local governments. It appears that bankruptcies of government entities is the next financial crisis in the offing; the reason why, will be explained shortly.

Within the last thirty or so years alone, the United States has seen greed fests and then busts with regard to junk bonds, savings and loan associations, derivatives, tech stocks, and subprime mortgages, just to name a few. Mortgage-backed securities used to be one of the lowest-risk investments around. Tax-free municipal bonds are presumably still one of the lowest-risk investments around.

BUT one small bond brokerage (and possibly others, too) whose website says it “specialize[s] in tax-free municipal bonds. That’s all we do.” recently changed the language on its customers’ monthly statements. It is forcing them to accept the words, “trading & speculation” (!) for their “Investment objective/Risk tolerance” or else they won’t be able to purchase bonds. It makes itself sound like a penny-stock broker-dealer of the 1980’s that churns accounts. Or a currency broker.

The brokerage is so phobic about covering itself legally that there must be bond issuers who are going to go belly up AFTER THE CURRENT PRESIDENT HAS BEEN REELECTED or has left office, whenever that is. (It might be recalled that Detroit took the plunge in July 2013, after Obama was reelected.) Or its brokers are getting greedy and unscrupulous. Or both. Good luck with that, all.