Bank CEO blasts peers for not seeing inequality (per The Charlotte Observer)

With more interest and advocacy for the disenfranchised in our midst, an article by Austin Weinstein of The Charlotte Observer caught my this week called “Bank CEO blasts peers for not seeing inequality. A link to the article is below.

I have written often about the “haves and have-nots” in America. The disparity has been worsening for years and it now matters more to whom and where you were born than merit. Sadly, the declining middle class and growing poverty problem has been addressed by more trickle down economics and attacks on benefits to help people in need.

Per The Charlotte Observer:

“Kelly King, the CEO of Truist — America’s sixth largest bank — issued an exhortation to the economic elite of North Carolina and the country: We are blind to the difficult lives of many in the U.S. and must work to resolve the country’s educational and economic divides, or risk the consequences.

‘We see what happens when we have this giant divide between the haves and the have-nots,’ King said to bankers and executives gathered in Durham for an annual economic forecast hosted by the North Carolina Chamber and North Carolina Bankers Association. ‘If we have this scenario where people lose hope, they have no sense of opportunity, they’re dysfunctional. They get mad, they get on drugs, they get guns, they start shooting.’…

While there are many origins to America’s widespread educational and economic inequality, King pointed to the perceived failures of American public school system as one of the paramount reasons for the divides in the country. If people can’t read or do simple math, he said, they are effectively left out of much of the U.S. economy.

‘We are cheating our kids and our grandkids of a future,’ King said. ‘They will not have the same kind of life we have had,” he warned, if the current course of the country isn’t changed.'”

We must invest in our children and our communities. Asset Based Community Development means repurposing depleted assets or restoring them to original form. A neighborhood school is more than a place of seven hour education. It offers a community meeting place for after-school programs, neighborhood meetings, civic meetings, exercise classes, etc. Inviting schools, rewarded teachers, safety mind-sets, etc. will reinforce better education for our kids.

King’s admonition speaks to the crisis it is. The US disparity has widened at the same time our educational ranks in science and math have fallen. If we don’t invest in our kids, we really don’t have the standing to speak of American exceptionalism. It is hard to be a shining light on a hill if we fall from the top.

Read more here: https://www.charlotteobserver.com/news/business/banking/article239048138.html#storylink=cpy

A few why moments the past decade

Since I speak often that we need to ask more why questions, as well as a few more what, how, and when questions, permit me to ask a few why questions about the past decade.

Why would Prince Andrew think it was a good idea for him to visit a known pedophile’s house and be photographed with teen girls he is accused of having sex with?

Why do people still not find it a national security concern when a US president bends over backwards to support various Russian narratives and running shadow diplomacy?

Why do mass shootings continue at such a rampant rate in the US and no tangible action is taken to address these and everyday shootings?

Why do the kids (such as Greta Thunberg, Emma Gonzalez, David Hogg, eg) understand our climate change and gun problems better than many adults?

Why are two of the heroes of the decade female – New Zealand Prime Minister Jacinda Ardern who led to new gun laws in one week after mass shooting and the 16 year old climate activist, Thunberg?

Why have people allowed the media to be labeled around the world as enemies of the people by so-called leaders not known for truth – Trump, Putin, Bolsonaro, Duterte, Xi, Johnson, Erdogan, et al?

Why are we not actively condemning hate groups for domestic terrorism – this is not right?

Why is the current White House trying to solve our growing poverty problem by kicking people off their healthcare and food stamps, and defanging the Consumer Financial Protection Bureau designed to punish predatory lending?

Why is there not a bigger outcry for screwing over our Kurdish allies who fought our enemies?

Why is the Hong Kong story being covered far more than China’s abduction and brainwashing of Muslim and other religious groups within concentration camps?

There are so many more why questions than I have space. Please add a few of yours.

The torch passes to us

Our friend Jill wrote an excellent post (see link below) called “Why do we need bigotry?” In the comments, she and I discussed the passing of Holocaust survivors, at a time when white nationalism is on the rise along with hate crimes.

The torch passes to new generations to speak the hard truths about history:

– the Nazi movement purposefully captured Jews, intellectuals, gypsies, homosexuals and expunged multiple millions of human beings calling them less than human. This is genocide.

– the American settlers committed genocide, as well, on Native Americans first claiming rights to land and killing the Native Americans when they rose up in protest.

– Slavery has never been right dating back to the bible. It matters not who is being enslaved. It is wrong. Watching the movie “Harriet” about Harriet Tubman, the cumulative asset value of the slaves could exceed the value of the land, which is why people wanted to maintain this sinful way of life.

– Then, there are the enslavements and genocides around the world and over history. Sometimes the enslavement is tying low wage jobs to people at risk. This is economic slavery. This occurs today in the US and other countries and is not restricted to the Jim Crow period. Whether it is sex trafficking or suppressed migrant workers, it is wrong.

– Finally, we had the Lavendar Scare in the US, where homosexuals were fired from government jobs, even if they were highly proficient and experienced. This is after Brit Alan Turing helped shorten WWII, but had to hide that he was gay. He was arrested and humiliated before he died after being outed after the war.

Bigotry is not right. It is also unwise. If people are treated as possessions or suppressed then their intellectual capital cannot be allowed to flourish. Countries that suppress women and girls are competing in a world with half of their talent.

Let me leave you with the key line from Oscar Hammerstein in “South Pacific.” “You have to be carefully taught, by the time you are seven or eight. You have to be carefully taught to hate the people your parents hate.” Bigotry is not DNA driven. It is taught.

Why Do We Need Bigotry?

Greta Thunberg joins a ninth grader in Charlotte for climate change strike

Her words were clear. We must “unite behind the science.” Sixteen year-old climate change activist Greta Thunberg joined ninth-grader Mary Ellis Stevens in Charlotte along with 1,200 other people for a climate change strike. I was one of the 1,200. Several young people spoke, with only a few adult voices making it to the dais. The crowd was multi-generational, multi-ethnic and multi-racial. It was wonderful to witness.

Below is a brief article from The Charlotte Observer on the strike. I was struck by several things she and others said.

– Thunberg made a point of referencing many of the indigenous tribes from our area. To me, this is representative of the saying “we are not inheriting our land from our forebears, we are borrowing it from our children.”
– a young UNCC student activist who is African-American noted that people of color are more impacted by climate change than other groups, yet they get under-represented at these events. The reason is the events are held during the working day, and not everyone has the luxury of getting away from work or school.
– Thunberg handled a heckler with the aplomb of a seasoned politician. After listening for a few seconds, she said why don’t you come back stage afterwards and we can talk about your comments?

I was incredibly proud of the young folks in attendance. I think Thunberg is a hero for her courage and candor. My favorite sign was from a young adult woman standing near me that said “You cannot renew lost time.” I told her that her sign was excellent. In my view, we have lost eleven years due to the Bush/ Cheney White House and the Trump White House. Good things have happened in spite of their lack of leadership on this topic, but these efforts could have been leveraged even more by concerted federal action.

https://www.charlotteobserver.com/news/local/article237108539.html

The most realistic path to ‘Medicare for All’ says a former Insurance CEO

I said back in 2010 to a healthcare consulting colleague, we will eventually need to consider national health insurance, but it won’t happen. When he asked why, I responded the “Healthcare industrial complex is too powerful.” People forget the reason we have the Affordable Care Act is CFOs were tired of rising healthcare costs to their bottom line.

Healthcare is a complex topic and the ACA added to that complexity. It has since gotten better, but we need to shore it up to stabilize it more, rather continue to allow it to be diminished as its opponents have down for several years.

But, national health care under the banner of “Medicare for All” is worthy of consideration with data and analysis. This retired actuary, benefits consultant and benefits manager supports data driven analysis to improve what we have and consider more substantive changes. JB Silvers, a former health insurance CEO and professor of health care finance at Case Western University, penned an article called “The most realistic path to ‘Medicare for All'” in The New York Times earlier this month. Here are excerpts from the article:

“Much to the dismay of single-payer advocates, our current health insurance system is likely to end with a whimper, not a bang. The average person simply prefers what we know versus the bureaucracy we fear.

But for entirely practical reasons, we might yet end up with a form of Medicare for All. Private health insurance is failing in slow motion, and all signs are that it will continue. It was for similar reasons that we got Medicare in 1965. Private insurance, under the crushing weight of chronic conditions and technologic breakthroughs (especially genetics), will increasingly be a losing proposition.

As a former health insurance company C.E.O., I know how insurance is supposed to work: It has to be reasonably priced, spread risks across a pool of policyholders and pay claims when needed. When companies can’t do those fundamental tasks and make a decent profit is when we will get single payer.

It’s already a tough business to be in. Right now the payment system for health care is just a mess. For every dollar of premium, administrative costs absorb up to 20 percent. That’s just too high, and it’s not the only reason for dissatisfaction.

Patients hate paying for cost-sharing in the form of deductibles and copays. Furthermore, narrow networks with a limited number of doctors and hospitals are good for insurers, because it gives them bargaining power, but patients are often left frustrated and hit with surprise bills.

As bad as these problems are, most people are afraid of losing coverage through their employers in favor of a government-run plan. Thus inertia wins — for now.

But there’s a reason Medicare for All is even a possibility: Most people like Medicare. It works reasonably well. And what could drive changes to our current arrangement is a disruption — like the collapse of private insurance.

There are two things insurers hate to do — take risks and pay claims. Before Affordable Care Act regulations, insurance companies cherry-picked for lower-risk customers and charged excessive rates for some enrollees…”

There is only one solution: pooling and financing many of the risks related to chronic and acute health care issues. A study by my former company noted generally 15% of participants drive 80% of the claims costs in any given year. It may not be the same 15%, but with major chronic issues, some could continue to be in the mix. The principle of insurance is to pool those risks, so that good risks can moderate the higher risks.

The ACA uses the private insurance system, exchanges and expanded Medicaid. Unfortunately, there are about 15 states who still have not expanded Medicaid. Medicare for All would consolidate the risk into one place, eliminating the profit load and reducing the relative administration cost of insurance companies. I have suggested for several years to do a pilot and expanded Medicare eligibility from age 65 to age 62, or even lower. This would let us measure the impact of such a change.

Yet, what we don’t need is this to become political. What people do not realize is the ACA has been sabotaged on several occasions by my former party which drove some insurers out of the market and increased premiums for everyone else more so than they otherwise would have been.

So, let’s cut to the chase and study options. And, politicians should let people who know what they are doing do the analysis. The ACA was made too complex and the exchange roll out was botched. On the flip side, what the GOP did in 2017 was sloppy and poorly staffed, so what was voted on woulf have been harmful to many.

Our children deserve better

Two time Pulitzer Prize winner Nicholas Kristof wrote an editorial earlier this week in The New York Times called “Our children deserve better.” It is a clarion call to our nation showing the plight of kids in America.

Here are a few quotes to frame the issue:

“UNICEF says America ranks No. 37 among countries in well-being of children, and Save the Children puts the United States at No. 36. European countries dominate the top places.

American infants at last count were 76 percent more likely to die in their first year than children in other advanced countries, according to an article last year in the journal Health Affairs. We would save the lives of 20,000 American children each year if we could just achieve the same child mortality rates as the rest of the rich world.”

“Half a million American kids also suffer lead poisoning each year, and the youth suicide rate is at its highest level on record….The Census Bureau reported this week that the number of uninsured children increased by 425,000 last year.”

These are different views and sources of the threats to US children that note we have a problem. Another source I read a couple of years ago noted America has a much higher maternal mortality rate at child birth than other civilized countries, which further endangers children as well as the mothers.

Yet, these issues are not being discussed in the halls of government. We have a poverty problem in our country with too many living in or just above poverty levels. We have not expanded Medicaid in fifteen states whose numbers are worse than these national numbers per capita. We have not addressed our national water crisis which has a Flint, MI like exposure to lead in too many cities and a volume of available fresh water issue in other places. We have not invested as we should to diminish crime and provide more opportunities for jobs in disenfranchised areas. There are several pockets of success that can be emulated in more cities.

We also need to address better gun governance, especially with the number one gun death cause by far being suicide and a non-inconsequential accidental gun death rate. And, we have not dealt with the continuing and rising exposure to technology and artificial intelligence which have taken and will take even more jobs in the future. Finally, there is that climate change thing we need to deal with.

These are real problems. And, they will get worse. Data driven analysis of causes and solutions are needed. They are both multi-faceted. Investing more now, will save huge amounts later. This is not just an urban issue, it is rural one as well. The opioid crisis is rampant in these impoverished rural areas, for example.

None of the solutions will fit on a bumper sticker. And, political attempts to oversimplify issues should be questioned. Here is an easy contradiction to spot – if people believe gun deaths are a mental health issue, then why the effort to eliminate or not expand mental health benefits?

Please make your legislators aware of these issues and ask pointed questions. These questions deserve answers, not bumper sticker slogans. These concerns deserve to be talked about, studied and acted upon.

Colorado Family Planning Initiative

As the veracity of Planned Parenthood is being discussed, there is a program and study that was conducted in Colorado over a seven year period that offers meaningful data. The Colorado Family Planning Initiative offered low-income women and teens access to low or no-cost contraception, including IUDs and implants.

The Governor’s office released the results of the program which analyzed data from 2009 – 2013. The key findings are:

  • there was a 40% statewide decline in the teen birth rate
  • there was a 35% statewide decline in the abortion rate

If the goal is to reduce the number of unwanted pregnancies and abortions, funding the use of contraception along with family planning efforts and information is the better answer. Cutting funding will only increase these numbers. And, it should be noted there are correlations between poverty and increasing family size and poverty and single mothers. This is more true the younger the mother.

Education is a vital part of the program as well. If people want to teach abstinence as part of a holsitic program, that is fine. But, the teachers and funders need to clearly understand these teens and young adults are just like we were, if not more so. They are tempted and will have sex. It would be so much the better, if they were informed of the consequences and knew what options there were.

A key part of the education must help girls understand that self-esteem need not be tied to sex. These girls need to be able to say no and feel confident in withstanding pressure, especially today with so many ads, shows, and stars (by dress and manner) saying it is OK. And, boys need to know that no means no. It can be uttered up to the time in which sex occurs.

As a parent, I know parents worry about their kids. You hope they will make good choices. Yet, we did not always make them and they will likely follow suit. Also, please understand even kids brought up in the strictest of homes will be tempted to do things when away at school or college. It is only natural.

Three anecdotes might help illustrate the importance of education and planning.

  • My brother-in-law taught eighth grade science in a high poverty rural area. Annually, he had a number of girls in his class get pregnant. To them, it was being like an adult a right of passage. Only when it was too late, did they realize the consequences.
  • A colleague was viewed by teens in her church as being the kind of person who would shoot straight with them. She was asked questions that told her these kids thought they could not get pregnant the first time and if they had sex standing up they could avoid pregnancy. When she mentioned to the minister to have a sex education class, he scoffed at her request.
  • A friend who has run several non-profits and is very devout told me the children of his friends would go off to a religious university nearby. He said these kids would go wild when finally away from their parents and shocked some of his friends by what they got into.

So, Planned Parenthood and organizations that provide holistic family planning need more funding to reduce the number of abortions and unwanted pregnancies. Kids need to get good information and access to tools. It is their lives. And, while I focused on pregnancies, STDs and HIV are very viable threats to manage through contraception and education.

Let me close with this thought. As the former Board Chair of an organization that helps homeless working families, single mothers is the predominant group that is helped. It is also the fastest growing homeless population in America. Key tools to help lessen the propensity of poverty and homelessness in this group are family planning, sex education and low-cost birth control.