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Obama, Dems Are Free Market Crusaders

Wall Street, health industry are the ones opposed to competition

By Kevin Spak,  Newser Staff

Posted Oct 21, 2009 11:01 AM CDT

(Newser) – The champions of the free market are on the march, but it's not who you think. It’s the Democrats who want to put health insurance on open exchanges where consumers can easily compare them, with a public option to inject competition into an “oligopolistic market,” points out Harold Meyerson of the Washington Post. The leading opponent of competition and transparency? “Our health insurance industry, which does just fine without them.”

Likewise, on Wall Street, the big banks are fighting to keep their derivative trading off an open exchange proposed by the Obama administration. They’d rather consumers couldn’t easily compare the hefty fees they charge, and they’re happy with their ever-growing market share. It’s big business, in short, opposing truly free markets, and liberals pushing for them. “Advocates for socialism? More like advocates for shoppers.”

Lloyd Blanfeil and James Dimon, CEOs of Goldman Sachd snd JP MOrgan are seen in this file photo.
Lloyd Blanfeil and James Dimon, CEOs of Goldman Sachd snd JP MOrgan are seen in this file photo.   (AP Photo/Manuel Balce Ceneta, file)
President Barack Obama walks across the South Lawn of the White House during his arrival on Marine One helicopter in Washington, Tuesday, Oct. 20, 2009.
President Barack Obama walks across the South Lawn of the White House during his arrival on Marine One helicopter in Washington, Tuesday, Oct. 20, 2009.   (AP Photo/Pablo Martinez Monsivais)
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COMMENTS
Showing 3 of 26 comments
schmidtkoff
Oct 22, 2009 3:25 AM CDT
@fondue - the witless does not know any better. pity.
Caps
Oct 21, 2009 10:44 AM CDT
schmidtkoff, could not have said it better. I wish I could give you several thumbs up.
schmidtkoff
Oct 21, 2009 8:03 AM CDT
@dontlike - what do you mean? what’s wrong with comparison? do we not do so when seeking auto insurance? The health insurance monopoly needs to be broken up. ya know, anti-trust laws and all that jazz. why should they be exempt, especially now when they deny coverage to those who have paid for years, drop them for no reason , make up silly excuses for so-called “pre-existing conditions”, ad infinitum. then the banks, fighting to retain their strangle hold on their hapless customers by way of hidden fees, exorbitant fees for overdrafts, penalizing their customers for not maintaining a balance by raising interest rates and more fees. are you really THAT misinformed that you believe the left is delusional? I would beg to differ for you seem to be the one not focused in reality, ie. delusional.

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