We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
The essence of this bill is quite simple: It makes the health insurance industry an arm of the federal government by mandating (not regulating to be clear) the terms, conditions and comparative rates health insurers can offer. In short, it tells them how to run their business and then picks up the cost where those conditions prove uneconomic.
We tried this experiment before. It is called Fannie Mae and Freddie Mac, and it is a major reason for the collapse of the financial system under the weight of $2T of bogus AAA securities.
Barrister ... Glad you posted this. Gives us a chance to point out that the problems with Fannie May and Freddie Mac began in 1977 with the Community Reinvestment Act, a law devised and passed by the Democrats, forcing banks to loan mortgage money to poorly qualified mortgage-seekers with bad prior financial records, because the Democrats thought it would be "nice" if everyone could own their own home. Prior to passage of this law, banks could do their own research on folks wishing to take out a mortgage, finding out if they had good credit records, had ever defaulted on loans, had criminal records and other very relevant information which might make a prudent lender decide not to lend. If I recall correctly, the CRA was enlarged during Clinton's administration.
The results were predictable -- loan defaults, bank losses, etc.
Now the Administration is getting cranky because banks are reluctant to hazard more money on shaky loans. And they're saying "do it, dammit."
You're on the money, Marianne. And guess who worked on behalf of his "community" when he returned to Chicago after law school? Former organizer, Barack Obama.
My father-in-law, a Chicago real estate attorney from the Southside, had a major fit as he had many qualified minority clients who were turned away for loans when CitiBank and others were forced to lend to many, many, many less reliable and blatantly unqualified applicants.
The area still suffers from his tenure as both an organizer and an attorney, not to mention the millions he blew in grants for public education heading the Annenberg Challenge with Bill Ayres.
jma ... Thank you for mentioning the Annenberg Challenge, Obama's first towering management failure in the real world. Lost millions, it did. The mainstream media has long deliberately ignored the facts on this mess, in their effort to praise Obama to the skies on little or no evidence of excellence in management skills. It's a shame that the MSM refuses to face this. Nevertheless, we are getting more and more current evidence of Obama's ineptitude as a manager. After all, if you are going to collect evidence in the real world on how a business effort is going, you have to listen to what people tell you. And Mr. O is singularly unable to do that. Then there's the Netanyahu debacle in which he proved he knows nothing of diplomacy and shamed all of us citizens.
The New Yorker magazine, when it was still a good magazine, used to have little snippets of information at the bottom of the pages -- jokes, comments and such. One such category was called "Infatuation with the sound of one's own voice dept."
How appropriate for Mr. O.
P.S. I wonder if we will ever in this lifetime find out what Mr. O's grades were at Occidental College, Columbia University and Harvard Law. They are apparently buried deep in the cat-box.
The man has the bad habit of abusing people...or letting Emanuel, Axelrod and Gibbs do it for him. Can you imagine how Netanyahu must have felt being treated with such disdain "So if you don't agree with me, I'll just go have dinner and let you think about it. I'll check in when I'm finished to see if you've learned your lesson."
Reminds me of parents punishing their kids by having them go without dinner. It's Alice Miller's "For Your Own Good" in an adult-to-adult forum.