insurance companies

Ted Kennedy's Dying Wish

Reprinted from JRichard's Gather blog. -- GH

Ted Kennedy's dying wish is no secret. He wanted to vote to bring in health care reform.

The right wing and the insurance industry denied him his dying wish. They played delaying tactics until he died. They spread lie after lie after lie about health care reform to try and stop it, and they kept delaying passage. "What is the rush?" Well, the reason for the rush is obvious. It was really always obvious. Ted Kennedy was dying, and everyone knew it. He was the biggest supporter of health care. It was his life work. It would cut into insurance company profits if he succeeded. If they could just delay things until after he was dead, things would be SO much easier for them.

But right now I need to introduce you to three of my friends. Don't worry. They are all safely dead, and have been for many years.

Private Insurance Begins Its Propaganda War

As if it wasn’t bad enough that private, for-profit insurance routinely makes its money by getting between us and our doctor, now they want to get between us and real health care reform.  They’ve put a Web site to advocate for keeping things exactly as they are, thank you very much, and they're not afraid to cherry-pick facts like they cherry-pick customers.  The propaganda war has begun.

Now We Know What AIG says, We Still Need To Know The Answer "What The Hell Is the Real Story?"

So, now we know, two thirds of the bail out money which went to AIG between October and the end of December wasn’t intended for AIG at all, but was passed through to others. The list includes Goldman Sachs, Morgan Stanley, Deutsche Bank, Societé Generale, and many others. And, if that wasn’t enough to make you choke on your coffee this morning, there’s the additional fuel of the AIG bonus story. OMG, this is just like totally over the top.

 
There’s a lot of outrage about this which is kind of being stoked by the media, and there’s some useful commentaries which are dealing with parts of the story. These three from Robert Kuttner Robert Reich and the America’s Future blog are ones to take cognizance of, I think. In Kuttner's view Obama's financial team is leading him to destruction. Reich raises his voice against the corruption, and so do the folks over at Progressive Breakfast in their morning release.
 
The outrage is directed at the upfront particulars, the bonuses and the pass-through laundering of bail-out funds. I think though there is a picture beginning to emerge of the structure of the Paulson-Bernanke bailout which raises a whole range of other issues. The banks continue to insist that their assets will come good with a rebound in the economy, and therefore their current pricing structure should be preserved.Yves Smith provided a major service this morning over at Naked Capitalism when she made available Bruce Krasting's discussion of the AIG bonusses and Tyler Durden's guest post on bailout spotting.