You have to be comatose to be unaware of the grotesque income inequality that prevails in contemporary America. Take a look at the disturbing data (here and here), documenting the extent of the inequality and the rate of change over time.
This insanity was brought home powerfully to those of us in the Boston area this week when Wednesday's Boston Globe carried a front-page article detailing the $8.6 million in compensation that Blue Cross / Blue Shield of Massachusetts paid in 2010 to Cleve Killingsworth, the chief executive officer of the non-profit organization who resigned abruptly in the Spring of 2010 at the urging of the board. This was after BC/BS posted back-to-back operating losses in 2009 and 2010 totaling $215 million.
What is wrong with this country? What is wrong with Blue Cross? Are we really supposed to believe that it takes compensation at that level to find a competent executive to lead this organization? That's absurd.
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