Wednesday, September 2, 2009

Fiduciary Responsibility causes good people to act immorally

Next lesson is American insurance company rip offs of ordinary hard working American workers is Fiduciary Responsibility.

As in it is the Fiduciary Responsibility of the Board of Directors of an insurance company to make the most money that is possible. It is the imperative legally required duty of CEOs and Board of Directors to maximize revenue. If they do not, they are legally liable for civil and criminal actions because they did not exercise the best Fiduciary Responsibility possible for their company and the share holders. Morality be damned. Sick and suffering patients be damned. They die for your company's increased profit.

Even the very few people with a conscience intact who make it on to a governing board or into a CEO or COO slot are put in a position that if they act morally they could lose not only their job, but their savings and even their freedom.

The concept of Fiduciary Responsibility in American corporate law REQUIRES immoral actions that deny reimbursements to the sick and desperate as long as it enhances revenue.

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