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Showing posts from February 22, 2010

History repeats; Obama to price fix insurance premiums.

Reading the news has replaced for me the need to watch late night comedy, I get all the humor one could handle plus a dash of fright and terror.  In today's NYT piece , we learn of our dear leader's new brilliant idea; price fixing!  That is right folks, where the brilliant minds of the Soviet Politburo and the crack team of the Nixonian administration have failed, our Harvard Law School graduate (where are those pesky transcripts?) decided he has figured it out all out.  The president’s bill would grant the federal health and human services secretary new authority to review, and to block, premium increases by private insurers , potentially superseding state insurance regulators. The bill would create a new Health Insurance Rate Authority, made up of health industry experts that would issue an annual report setting the parameters for reasonable rate increases based on conditions in the market. Nice.  Let's pretend that America is just stupid enough to forget the faile