Repugs vote to Repeal Health Care Reform (And a rant on Banks)

This is purely symbolic, it won’t fly in the U.S. Senate, and the President will certainly veto if it did.

I think the Repugs need to be tarred and feathered with the Tea Bagger phenomenon and the shooting of Rep. Gabriele Giffords.

The health care bill had some good points in it, like the denial of rejection for pre-existing conditions, covering adult children to age 26 under parents insurance, you know, things like that. I do find the obligation to buy insurance a bit on the unconstitutional side but nothing we can’t address with future legislation.

And I side with the California Nurses Association. The U.S needs to be on a single payer system. In the U.S. that would be Medicare. Here’s the dirty little secret, the overhead required to administer the Medicare system is 3%. I’ll give you one guess what the overhead is for private insurers and why it’s that high. Yes, 20% to 25%, and it’s to satisfy stockholder profit, nothing more. Of course the insurance industry would go apeshit if such a thing were to come to pass. Just reading Wendell Potter’s “Deadly Spin” gave a glimpse into the panic that a movie could cause the industry. Imagine a real legislative push.

And while I’m on a rant, let me talk about the banks. An associate at work made the asinine statement that he wants to see ALL regulations taken off banks. I explained to him that if the banks had been better regulated they wouldn’t have gotten into trouble with all the toxic assets which resulted in a run on the credit default swap systems.

I also mentioned that letting banks and insurance companies merge together was an extremely bad move, since insurance companies if they aren’t managed properly end up being money pits.

I made it clear I want to see strong government regulation of banks again. I want them so regulated that if they even fart wrong the government can take over the bank and liquidate the assets. I say this because I know for fact that a certain big bank is teetering on needing yet ANOTHER bailout.

It would be far less expensive to pay out deposits to depositors and liquidate the assets than it is to shore up ludicrous business practices employed by the banking industry. This is looking at it from a long term, not short.

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