Who invests billions in the fast food industry? Hint: you send them checks every month

Should we be aghast?

An investigation from Harvard Medical School and the Cambridge Health Alliance reveals that a number of major insurance companies own stock in the fast-food industry.

How much stock?

A LOT!

A cluster of U.S., Canadian, and European health and life insurance companies own nearly $2 billion worth of stock in McDonald’s, KFC, Taco Bell, Pizza Hut, Jack in the Box, etc.

In a Cambridge Health Alliance press release, the lead researcher (clearly aghast) had this to say: “Our data illustrate the extent to which the insurance industry seeks to turn a profit above all else. Safeguarding people’s health and well-being take a back seat to making money.”

Okay…let me get this straight…

The insurance industry seeks to turn a profit above all else?

It’s like saying a quarterback seeks to put the ball in the end zone above all else.

It’s what they do!

And since when do insurance companies safeguard people’s health and well-being? Well, except other than TV advertisements where insurance reps couldn’t be more thoughtful and compassionate.

But that’s a feel-good fantasy of insurance.

Sources:
“Health, Life Insurers Hold Nearly $2 Billion in Fast Food Stocks” Press release from Cambridge Health Alliance, 4/15/10, cha.harvard.edu