September 10, 2013 by History in a Hurry
What is Obamacare? Short version of this article: Obamacare is yet another government-enabled consolidation of corporate power and control. It will reduce competition and expand the control of the insurance companies over doctors and patients.
Real Danger of “Obamacare”: Insurance Company Takeover of Health Care
by Nomi Prins
Saturday, November 10, 2012 at 7:36AM
The Tea-Party Conservative types get it embarrassingly wrong when they call it a “government takeover of health care.” Likewise, Progressive Obama-supporters are deluded in accepting it as the most sweeping healthcare reform since Medicare. (Side note: I wish the word ‘sweeping’ could be retired from politics until it actually means – sweeping.)
Here’s why. The PPACA does nothing to restructure the health insurance industry, anymore than the Dodd-Frank Act restructures the banking industry. This means everything else it attempts to do, positive or negative, will be vastly overshadowed by an industry accelerating to morph itself into an acquisition machine in order to circumvent anything that even smells like a restriction, including laws that exist and ones to come.
How? By doing the same thing energy and telecom companies did after they were deregulated in 1996, and that banks did after they were summarily deregulated (after moving that way for decades) in 1999. They are merging, consolidating, eliminating competitors, and controlling their domain. They are manufacturing power.