Who does not get upset about old people being kicked out of their home, right? I feel bad even to write anything at all related to this. But I cannot help it.
Putting all the emotion aside, what was really the problem here? Is it that old people are being tricked by oral promises? How does anyone propose to solve this? Should we record every single conversation old people have when they sign contracts? Private contracts are essential to any financial operation, how are we supposed to teach people that if something is not in paper it is not enforceable?
Or is real problem here that this company serves old people and therefore needs to behave differently than other companies?
The real kicker is the part where they said that the Myers couple went through their savings during their 3 year stay at that facility, making this sound like a crime. Again, what is really the problem? Was the contract illegal? If we are saying that this is unfair because old people don’t understand money, how come the sons and daughters of the Myers were ok with the whole thing during 3 years? And how about the stock market mention? Are we saying that old people should not be able to lose money when stocks go down? We have to decide what is allowed or not, you can’t have it both ways.
This new fetish around regulation scares the crap out of me. This is becoming a codeword for big government doing very stupid things. What regulation could have changed this? Why do you think other assisted living companies have ‘stayed away’ from serving middle class? Would the Myers be better off if they had to spend those last 3 years in the nursing home they so clearly did not like?
I know with all these bailouts and deficits things get cloudy, but make no mistake: if we keeping eating our cakes and trying to keep them too, one day there will be no more cake.