PrintMarch 13, 2010
The Problem with Blaming Insurance Companies
Earlier this week, President Obama addressed a crowd of gushing students and selected guests at Arcadia University in a suburb of Philadelphia to promote his final push for health care reform. It was a beautiful day for late winter, magnifying the gathered group's existing enthusiasm and after the usual "I/we love you(s)" from the crowd, the president wasted little time before turning to his usual tones of demagoguery.A moment or two into the speech, the president characteristically accused the insurance companies of arbitrarily causing the extra inflationary costs of health care coverage and for other ills of our health care system:See, these insurance companies have made a calculation. Listen to this. The other day, there was a conference call that was organized by Goldman Sachs. You know Goldman Sachs. You've been hearing about them, right? [Laughter.] So they organized a conference call in which an insurance broker was telling Wall Street investors how he expected things...(Read Full Article)
