July 21, 2004

Life Insurance

I beat the NY Times up all the time, but sometimes they get it right. There has been an interesting series on the sale and marketing of inappropriate financial products, including but not limited to life insurance and mutual funds, to soldiers. Apparently, for as little as $1500, you too can buy congressional intercession on behalf of your sleazy business practices. The first article is here and the second one, run today, is here. Go read the second one to understand my comment about how cheap it is to buy access.

This practice, by the way, stands in sharp contrast to the actions of the most prominent Americans during the Civil War. I have been reading, at night, the McCullough biography of Theodore Roosevelt, called, "Mornings on Horseback: The Story of an Extraordinary Family, a Vanished Way of Life and the Unique Child Who Became Theodore Roosevelt". The President's father, during the Civil War, was instrumental in creating the Allotment Commission. I find nothing of any consequence about it after a Google search, but let me explain.

The men went off to fight in the Civil War and left their familes and women behind, often made destitute by the lack of income after the men left their civilian jobs. Roosevelt, and others, conceived of the Allotment Commission. They presented it to Lincoln and secured his agreement. What was it? Simple. It was a mechanism by which Union soldiers could allot some portion of their pay to be subtracted from their pay check and transmitted directly back home. No one else had ever thought of this. Roosevelt traveled to practically every encampment and preached to the men the value of this service. Many signed up and many millions of dollars were sent home. This was a selfless act on Rooselvelt's part.

We dishonor the memory of the men who toiled on behalf of the common soldier, without recompense, by permitting these scum to prey upon our soldiers. It is just shameful.

Posted by Random Penseur at July 21, 2004 11:25 AM

286042: Hey, does anyone know where I can find a list of gas stations with low prices in my area?

Posted by: Debra Riley at October 17, 2005 08:48 PM
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