Obamacare: It’s About Enriching Bankers and Wall Street
March 20, 2010
In an effort to push through his totalitarian care bill, Obama promised the sky. One such promise was that he would give federal authorities the power to block unreasonable rate hikes. Just like the promise to put negotiations on C-SPAN, the promise to check rate hikes evaporated.
“It was a bold response to skyrocketing health insurance premiums. President Barack Obama would give federal authorities the power to block unreasonable rate hikes,” reports the Associated Press. “Yet when Democrats unveiled the final, incarnation of their health care bill this week, the proposal was nowhere to be found.”
Makes sense, considering the fact Obama’s health care “reform” was crafted at the behest of large insurance corporations. “This is a very good bill for insurance companies and pharmaceutical companies,” said Rep. Stephen Lynch, a Democrat, on Thursday. “The insurers still rule,” Lynch added. “Were just pumping subsidies into the current system, but that won’t drive down costs.”
In December, Howard Dean, the former Democratic National Committee Chairman, said the legislation before Congress “is a bigger bailout for the insurance industry than AIG.” Dean characterized it as “an insurance company’s dream.”
Before boarding Air Force One earlier in the week, one-time maverick congressman Dennis Kucinich characterized the bill as “a bailout for insurance companies.” Prior to subjecting himself to Obama’s voodoo — or threats, nobody knows really — Kucinich said Obamacare was designed for Wall Street banksters.
“Maybe what we’re looking at here is another way that Wall Street’s speculative engine can be fueled, this time with the help of the premiums of tens of millions of Americans,” he said.
“There is no government of the people, for the people, by the people, only the rule of private interests,” writes Paul Craig Roberts. “The Wall Street investment banks, which created with the compliance of the regulatory authorities and the credit rating agencies, ‘toxic’ instruments that were sold world wide, thus destroying the prospects of people in many countries, are devoid of integrity and honor. Their only god is greed. And they control the US government, which is too dependent on campaign contributions to restore regulation.”
Roberts warns this predatory activity will continue with Obamacare.
Obama likes to fly around the country and say he will sock it to the insurance companies, but this is simply empty rhetoric. Obamacare will enrich and expand the power of large insurance corporations. “If a government healthcare plan materializes, it might actually generate more work for insurance companies. A new government program would probably subcontract much of its administrative work to existing insurance companies — which is what Medicare does,” writes Rick Newman for U.S. News & World Report.
Do insurance companies hate Obamacare as Democrats insist? Not at all. This bill is almost identical to the plan written by AHIP, the insurance company trade association, in 2009. The original Senate Finance Committee bill was authored by a former Wellpoint VP. Since Congress released the first of its health care bills on October 30, 2009, health care stocks have risen 28.35%.
In addition to increasing the power of insurance companies, the “socialization” of health care will provide a boost to the Wall Street casino, otherwise known as the stock market, Newman argues.
Discount the fallacious rhetoric of Obama and the Democrats. Obamacare is about profit for large corporations, not the health of the American people.
Back in the 1980s, HMOs were billed as non-profits designed to provide less expensive care. It was all smoke and mirrors.
“Ten percent of all HMO members are in Aetna’s U.S. Healthcare HMO alone,” writes Jeremy Brecher. “They have been joined by chains of for-profit hospitals like HCA Healthgroup, which owned 300 hospitals by 2001. The stock of these corporations is avidly traded on Wall Street. Their success is measured not by the health of their members, but by the profits they can provide to their investors.”
Howard Dean and Dennis Kucinich told the truth about corporate and Wall Street dominated health care because they want a government-run socialized health care system that excludes large for-profit corporations.
Obamacare also aids the banksters in their plan to bankrupt the United States and turn it into yet another third world cesspool mired in staggering debt. “Look for an even tenser decade ahead, made tenser still by any added costs of Barack Obama’s vast new social welfare program,” writes the neocon David Frum.
Frum is right, of course — and a hypocrite. His former boss, George Bush the Lesser, was led around by the nose by a gaggle of warmongering neocon ideologues. He cranked up the national debt by more than $4 trillion. In addition to funding social programs like Medicare and Social Security Republicans claim to hate — but continue to fund — a lot of the money went to funding military expansion and wars against manufactured enemies.
Democrats, Republicans, neocons, neolibs — they all work for the bankers. All the highfalutin rhetoric they continually espouse is nothing more than hot air on the road to serfdom.