From Enron to Saudi Arabia, from Rikers Island to ICE's gulag, how McKinsey serves as "Capitalism's Consigliere"

On this week's Intercepted podcast (MP3) (previously), host Jeremy Scahill (previously) takes a long, deep look at the history of McKinsey and Company, whose consultants are the architects of ICE's gulags, a failed, high-cost initiative to curb violence at Rikers Island that used falsified data to secure ongoing funding — a company whose internal documents compare management consultants to "the Marine Corps, the Roman Catholic Church, and the Jesuits" and whose government contracts bill out freshly hired, inexperienced junior consultants at $3m/year.

America's execs increasingly believe health insurance industry is worse than useless

It's not just Warren Buffett and his Republican lieutenant Charlie Munger who favor single payer and view the US health insurance industry as a drag on national competitiveness and a needless expense on the bottom line: it's also companies like Walmart, Boeing, and GE, who have stopped paying insurers, buying services for their employees directly from hospitals and health-care providers.

Health insurance versus health

Ezra Klein's Washington Post column quotes from the Congressional testimony of Wendell Potter, a 20-year exec at Cigna, explaining how the health insurance industry's business model is incompatible with health itself:

The industry, Potter says, is driven by "two key figures: earnings per share and the medical-loss ratio, or medical-benefit ratio, as the industry now terms it.

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