Of course companies are in business to make a profit, but within the framework of legal and ethical rules. And there was a time, not so long ago, when even our financial institutions adhered to some kind of ethical standards. Insurance companies used to rely on statistical data to work out premiums, while competition took care of the rest. That is not to say that outrageous situations did not emerge, with sick people being denied treatment on some technicality. But lately the situation has changed for the worse. Large institutions no longer seek to make a reasonable profit; they are actively engaged in swindling the public using any method at hand – very often through advertising.
You have doubtless come across ads for free credit reports, a ruse to get your credit card number and start charging you a monthly fee. You’ve also been exposed to car insurance ads touting the savings you can realize by comparing rates from other companies. If you’re over 65, there’s the bewildering maze of insurance offerings to supplement Medicare (and make Medicare a practical reality). The high cost of developing medicines is more than offset by profits that defy imagination, and the value of said medicines may be questionable in many cases (some manufacturers cheerfully inform their prospective customer that death is a possible side-effect, but not to worry – it’s FDA approved). The unfortunate reality is that unethical companies are run by unethical people. It will not be easy to replace criminal greed with a sense of ethics – besides, no one seems to be trying.