I'm a big fan of our 26th president, Theodore Roosevelt. He was a visionary, was tough, and looked after the interests of the American people. And he had a cool mustache.
TR was also a trust buster. In his day corporate monopolies were not uncommon. Congress passed the Sherman Anti-Trust Act in 1890, but it was just a dust collector until TR came to office and used it to break up industries that didn't have the interests of the public at heart, all while NOT declaring war on the wealthy.
He broke up JP Morgan's Northern Securities which had a stranglehold on much of the northern states railroads, and most famously, he broke up John D Rockefeller's Standard Oil Company. They were set up solely to enrich the principals, with little regard to any public responsibility.
Where am I going with this? Today's news:
(Health insurance giant) Aetna to buy (health insurance giant) Humana in $35 BILLION deal.
And just last month (health insurance giant) Blue Cross / Anthem announced they wanted to buy (health insurance giant) Cigna, offering them $47 BILLION. Cigna said that wasn't enough, and negotiations are still quietly moving forward.
I have many doctor friends, clients I've built homes for. They all tell me, every single one of them, that it is the health insurance companies who are the BIG winners in the Affordable Care Act, aka ObamaCare.
Profit is a good word. I'm all for profits, but at what cost? Are profits truly a zero-sum game? Does one group have to be a big loser in order for the other to be a big winner?
For years both the Democrats and Republicans, with a slight edge to the Republicans, have preached "FREE MARKET!....DE-REGULATE!....MORE COMPETITION!" Did you feel their hot air being blown up your skirt? They certainly talked-the-talk, but they turned their back on us when it came time to walk-the-walk.
Over the past few years Delta and Northwest Airlines have merged (now known as just Delta), Southwest and AirTran have merged (now known as just Southwest), and America West absorbed US Airways, and then merged again with American Airlines (now known as just American). They control 80% of the US airline marketplace. Over the past year or so the price of jet fuel, one of their biggest costs, has come DOWN by approx 40%, yet fares are UP by 13%. The Feds are now looking into this, questioning whether these giants are somehow in collusion. Betcha nothing, or next to it, will come of this investigation. It's the Washington way.
Do you think if there were 8 mega-airlines instead of just this handful this would be the case? I'm not even going to mention the BILLIONS OF DOLLARS they're making off checked baggage fees, stale sandwich sales, and pay toilets. (OK, maybe I'll mention it just a little :)
Now the health insurers want to merge, too, citing "economies of scale", and how it would be "in the public interest". MY ASS! Once they get what they want, get ready for a wild ride, folks. Recent history tells us this will turn out to be another nail in our....the people's....coffin.
What happened to de-regulation? Yes! The well managed will survive and thrive, while the laggards will fail, as they should.
What happened to competition? Yes! The most innovative, the most customer oriented, the smartest will thrive, while the others will languish, as they should.
It is anti-monopoly laws that keep things on the up-and-up. IMO they are NOT being enforced vigorously enough, if at all. We're getting steamrolled!
What happened to the "free market"? Wake up people! WE ARE THE MARKET!
One last bit of wisdom from Teddy Roosevelt:
I want my Teddy! *sniff*
S