DrewWilson
June 7th, 2009, 12:25 AM
Health and life insurance companies in the US and abroad have nearly $4.5 billion invested in tobacco stocks, according to Harvard doctors.
“It’s the combined taxidermist and veterinarian approach: either way you get your dog back,” says David Himmelstein, an internist at the Harvard Medical School and co-author of a letter published in this week’s issue of the New England Journal of Medicine.
The largest tobacco investor on the list, the 160-year old Prudential company with branches in the US and the UK, has more than $1.5 billion invested in tobacco stocks. The runner-up was Toronto-based Sun Life Financial, which apparently holds over $1 billion in Philip Morris (Altria) and other tobacco stocks. In total, seven companies that sell life, health, disability, or long-term care insurance, have major holdings in tobacco stock.
Why is it a big deal? “If you own a billion dollars [of tobacco stock], then you don’t want to see it go down,” says Himmelstein, “You are less likely to join anti-tobacco coalitions, endorse anti-tobacco legislation, basically, anything most health companies would want to participate in.”
More... (http://www.scientificamerican.com/blog/60-second-science/post.cfm?id=health-insurers-want-you-to-keep-sm-2009-06-03)
I think I'm gonna be sick.
“It’s the combined taxidermist and veterinarian approach: either way you get your dog back,” says David Himmelstein, an internist at the Harvard Medical School and co-author of a letter published in this week’s issue of the New England Journal of Medicine.
The largest tobacco investor on the list, the 160-year old Prudential company with branches in the US and the UK, has more than $1.5 billion invested in tobacco stocks. The runner-up was Toronto-based Sun Life Financial, which apparently holds over $1 billion in Philip Morris (Altria) and other tobacco stocks. In total, seven companies that sell life, health, disability, or long-term care insurance, have major holdings in tobacco stock.
Why is it a big deal? “If you own a billion dollars [of tobacco stock], then you don’t want to see it go down,” says Himmelstein, “You are less likely to join anti-tobacco coalitions, endorse anti-tobacco legislation, basically, anything most health companies would want to participate in.”
More... (http://www.scientificamerican.com/blog/60-second-science/post.cfm?id=health-insurers-want-you-to-keep-sm-2009-06-03)
I think I'm gonna be sick.