Saturday, December 15, 2012

Single-Payer Health, Single-Lender Biz Loans?

The medium-term objective of ObozoCare is to eliminate health insurance companies and self-insured plans.  Won't be too hard to do, and when it's done, the only "insurer" remaining will be the FedGov.

Hey, if you like the Post Office....

Anyhoo, that's not the only game of Monopoly being played by the Obozo Cabal.

President Obama’s Consumer Financial Protection Board, led by a ‘recess appointee’ installed when the Senate was actually in session, has blocked 150,000 jobs and made it difficult for lower-income Americans to access credit, according to a new House report.

... “Already, according to estimates, the CFPB has increased the cost of consumer credit by a total of $17 billion and depressed job creation by about 150,000 jobs.”

The report explains that Dodd-Frank rules, which the CFBP develops and implements, are making it difficult for small business owners to borrow money needed for their companies.

Access to traditional credit sources has become increasingly strained for many small businesses owners,” the report explains. “[A]s a result of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (the Card Act),20 which the CFPB is in charge of implementing, interest rate spreads for credit card loans have increased, making it more difficult for eligible borrowers to access the capital they need for their businesses.”...

Well, financing a biz on your MasterCard isn't the best idea anyway.  But wait, there's more!! lending has dropped and new regulations are causing small banks and lenders to close. “In addition, small lenders and community bankers are especially overwhelmed by the onslaught of ‘red tape,’” according to the Committee. “As the regulatory requirements of the Dodd-Frank Act continue to be implemented, more and more small banks are closing or being sold to large competitors.”

Pretty soon the only remaining small-biz lender will be the SBA.



Anonymous said...

Medicare is single-payer insurance and is one of the most efficient administrative systems in America, private or government. And it IS government.

Anonymous said...

Medicare pays pennies on the dollar. Of course it is "efficient" you dumb ass.

Tim Morrissey said...

I am 63 years of age and remember quite clearly why part of LBJ's "Great Society" was the creation of Medicare.

It was because the insurance companies refused to sell health insurance to anyone over 55, and anyone with a pre-existing condition which might cause them to disburse funds.

So, yes, as far as I'm concerned, the "gubmink" can run the private health insurance companies right out of business.

The government has proven it's incapable of meaningful regulation of the insurance industry, so, I'll take my chances that when I put my "forever" stamp on a piece of mail, it'll get to its destination, if you understand the analogy.

Anonymous said...

Hey dumb ass. What Medicare pays to its providers has nothing to do with its efficiency. The point is that Medicare's administrative overhead cost is something under 3%.

Dad29 said...

Medicare's base of subscribers is huge. 3% is entirely reasonable. Of course, the fraud is a problem, but hey! It's "efficient."

And it IS screwing the providers. But that's "efficient" too--just not efficacious.

As to the reason for its existence: you may be at least partially right, Tim. The other (unstated) part: private enterprise couldn't afford the union-negotiated 'lifetime' health bennies. So the (D) folk--all very friendly to management (as they still are) took that burden off their shoulders.