—Joseph P. Kennedy to one of his Harvard buddies*
From BioEdge:
America’s sex reassignment surgery market size was US$1.9 billion in 2021, according to market analyst Grand View Research. It is expected to grow at a rate of about 11% annually, reaching about $6 billion in 2030.
Demand for this highly specialised surgery is growing fast due to an apparent increase in gender dysphoria. According to a 2020 study conducted by a Los Angeles hospital, Cedars Sinai, 78% of transgender males experienced gender dysphoria by the age of 7.
Insurers are more willing to cover sex reassignment surgery as well. Aetna and Unicare already provide insurance for surgical procedures like salpingo-oophorectomy (removal of ovaries and fallopian tubes), hysterectomy (removal of the uterus), orchiectomy (removal of testicles), or ovariectomy (removal of the ovaries). In the US, around 152,000 transgender individuals are enrolled in Medicaid, according to GVT, but only 69,000 among them have access to gender-affirming care coverage under state law.
The female-to-male market segment generated the most revenue in 2021. GVT attributed this to innovations in metoidioplasty (creating an artificial penis), phalloplasty (modification of the penis), scrotoplasty (creating a scrotum), and chest reconstructing (removal of breasts)....
Split that up between a couple dozen titty removal shops gender affirmation centers and you're talking a sweet little quarter-billion per year business, per center. Decent margins too.
Just don't bring up, oh, lobotomies. That too was done to a lot of people who trusted the science, including Joe Kennedy's daughter Rose.
In 1929 he and some other rascals got together to run the .com of the day, Radio Corporation of America.
What a run it was! The pool picked up $5 million in ten days. My BLS inflation calculator says that's a bit over $60 million today (although the PBS special linked below says $100 million).
When the question arose as to who should manage the pool the answer was easy. Who better than the specialist in the stock, Michael J. Meehan! PBS did a good job on their show "The Crash of 1929", even interviewing Meehan's grandson. Here are some of my links, Senate Hearings (4 page PDF), 1948 SEC chief counsel memo on the Act of '33 (5 page PDF), Colliers story on the early SEC.
In 1934 Joseph Kennedy was appointed the first commissioner of the S.E.C.