a friend of mine who subscribes to this LTC newsletter
sent me their rebuttal to the recent NY Times article
on designations. I do agree with the statement that
the Times is not the most trustworthy source of
information and enjoys sensationalizing things.
LTC E-Alert #7-088:
NY Times Attacks CSA
Monday, July 9, 2007
LTC Comment: The New York Times' in-house yellow journalist
has struck again. Front page, above the fold,
in the Sunday paper, yesterday.
Here's the story.
Read the underlying article by Charles Duhigg,
"For Elderly Investors,Instant Experts Abound,"
New York Times, July 8, 2007 at
This time Duhigg smears Ed Pittock's
Certified Senior Advisor (CSA)
program among other short-duration training
and certification programs for
people who market to the elderly.
(Not including, by the way, the
CLTC or LTCP programs for long-term care
All my interactions with Pittock, the CSA
program, and individual CSAs
have been positive, but I don't know enough
to refute any of the accusations made in the article.
What I do know is that the author, Duhigg,
has a history of making broad unfounded
accusations based on little evidence and
a lot of bias against the private sector.
You couldn't ask for a better example
than his attack on private
long-term care insurance published on the
opening day of that industry's
national trade conference.
For a link to that
article and our critique of it, see "LTC E-Alert #7-041:
LTC Embed: Report from the Policy Front
in Chicago, April 2, 2007" in The Zone at
You'll need your user name and password to
access this piece.
I'm reminded of the Biblical admonition: "Why do you see
the speck in your neighbor's eye, but do not notice the log
in your own eye?" (Luke 6: 41). In other words, when will
we see the New York Times and hit man Duhigg point
their attacks at the public sector's shortcomings?
For example, Medicare's and Social Security's $91
trillion unfunded liabilities or Medicaid's disastrous impact
on the long-term care marketplace.
Those are the big problems facing America's seniors.
And those are the real risks the private sector,
including insurance carriers and their
representatives, are struggling against huge odds to
help clients mitigate with private savings, investment
and insurance products.
Every barrel has some bad apples. Journalists should
search every vessel looking for them. But their
investigations ought to include the public sector,
"social insurance,"Ponzi schemes that predominate
and not just the private financing alternatives
that the public programs crowd out.
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