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Would you trust a judge's ability to make a ruling on your court case if he was paid 5% of the final settlement? Of course not! That would be a conflict of interest. So, why do we allow other conflicts of interest to shape our world? Bankers advise us on loans that they get kickbacks from. Politicians vote for bills in exchange for lobbyist money. Insurance companies manipulate coverage and premiums based on what allows them to turn a profit or not.
The question isn't how much these companies are making, it is their method of doing business that is corrupt. They could be in the red and it would still be corrupt. It needs to be regulated.
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