Robber Barons

Most people consider Big Tobacco to be at the bottom of the heap when it comes to corporate citizenship. Everyone (myself included) takes a certain pleasure at pointing out the flaws of Walmart (and there are many). But what does it really take for an industry to be relegated to the selfish, greedy, and just plain foul?

In my mind, there are two businesses that exemplify a lot of what is wrong with America today - Big Pharma and Credit Card companies.

Sure Big Pharma saves lives everyday. Their motto is "We'll save your life, but you won't like what you have left." With record profits and sky-rocketing costs for prescription drugs (why else would seniors go to Canada - presumably it's not to ski), Big Pharma can easily drive families into bankruptcy. Costs for certain cancer drugs can run $2000/dose. At 20 doses per treatment, the total is pretty close to the U.S. annual median income before taxes. So sure, your cancer is gone (at least for now), but what do you have left besides mounds of debt (and a piss poor credit rating thanks in no small measure to the latest bills passed by Bush & Co.) and no job? Well,l this is where the benevolent Credit Card companies step in.

Most companies want clients who have money. With Credit Card companies, it is just the opposite. They want customers who cannot pay their bills. Credit Card companies actually lose money when people pay their bills on time. When consumers do not pay their bills on time, Credit Card companies can levy astronomical interest payments (potentially exceeding 20% compounded monthly! which can turn an anthill into a Mt. Everest) against them. The most attractive market for these companies are people who have recently filed for bankruptcy or lost everything (e.g., Katrina victims). These people need money to rebuild their lives, but likely don't have the cash on hand to make on-time payments, resulting in a huge windfall for the Credit Card companies. Since these people recently filed for bankruptcy and had their debts wiped clean, they will not be allowed to have any new debt forgiven (at least not until they are old, wizened, and hunchbacked from carrying years worth of credit card debt on their backs).

Although both Big Pharma and Credit Card companies provide valuable services (arguably Big Pharma more so), they both take advantage of people in weak positions whether it be for health or financial reasons. What makes it all the more worse is these companies have yet to be truly unmasked for what they are. Big Tobacco was unmasked years ago, and anyone who sues cigarette manufacturers should have an reading, IQ, and deaf/dumb/blind test. But with these other businesses, it is still possible to dupe the consumer and that is what is happening today.