I wonder what percentage of Steward Health Care’s executives, board members and investors are big Ayn Rand fans. Probably a high percentage of them, even though they’re the antithesis of the innovative, risk-taking, get-government-off-our-back capitalists glorified by Rand in her novels. Ultimately, they used government tax, incorporation and bankruptcy laws to make their profits – and then hid behind mama government’s Chapter 11 skirts to protect their wealth from screwed over creditors and stakeholders. And don’t forget where much of Steward hospitals’ revenues came from: government Medicare and Medicaid programs. …
The reason for this rant: the Globe Spotlight Team’s latest stories (here and here) ripping into the owners and investors of the now bankrupt Steward hospital chain.
