That’s right, in a current article penned by Senator McCain, he promises to bring to our healthcare system what has worked so well for Wall Street:
The crowd goes wild!
In the September/October issue of Contingencies – the magazine of the American Academy of Actuaries – McCain argues that what is good for Wall Street is good for family healthcare. If AIG can go from a $70 to $4 stock price in twelve months with these vaunted policies and a mere $85,000,000,000 of public “investment”; if Lehman Brothers can go from a 2007 revenue of Fifty Nine Billion in 2007 to a market valuation of 130 Million on Sept 15, 2008; if Bear Sterns can manage to shed the unwanted bulk of 93.5% of it’s value in one short year…
Just Imagine What We Could Do To Healthcare!!!
It just staggers the mind, don’t it? The sheer, audacious, grasping genius of it all!
Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation. Consumer-friendly insurance policies will be more available and affordable when there is greater competition among insurers on a level playing field. You should be able to buy your insurance from any willing provider-the state bureaucracies are no better than national ones. Nationwide insurance markets that ensure broad and vigorous competition will wring out excess costs, overhead, and bloated executive compensation.
I know! I’m excited, too!
Just think of all the excesses that we could wring out! Just look at all the efficiencies we’ve achieved in the banking market! There are lots of unemployed bank employees these days, and see how much that saves? If we apply these strategies to healthcare, before you know it the unemployment lines will be stock-full with all those overpriced Doctors, Nurses and the rest of the greedy medicos!
Whaddayamean those aren’t executives? OH, CEOs! Well, the CEO of Bear Sterns earned every penny of the $232,000,000 he was paid for flying the company into the ground, that takes great skill! The CEO of AIG deserves his $7,000,000 going-away present for losing $1,000,000,000,000 in capital! You try to lose 94% of a company that large in two years, I bet you just don’t have those sort of brass monkeys!
Ed. Note: Yes, that’s what a Trillion Dollars looks like. Might just be easier to imagine as $100 a second for 320 years, or, to keep it in small bills: $1/second for five times as long as all of human civilization…(or, as Gov. Palin would have us believe, five times the age of the universe)
So, John McCain – the Great Deregulator – does have a plan for healthcare! And man, when he gets his hands on it, the headlines will be just as exciting as they have been this very week.