Health Care Regulation Will Work!

(10 am. – promoted by ek hornbeck)

Didn’t you get the memo?  There are regulations in the health care bill!  These new regulations will make the health care industry give American families a fair deal.

There is now, absolutely, no reason to hold up this health care bill.  These new regulations will work just as they worked for credit card companies.

You don’t believe me?  Read on…

(cross-posted at Daily Kos)

USA Today is reporting that credit card companies have a new trick up their sleeve; 79.9% interest rates.

And, you want the money quote from that article?

The bloated APR is how First Premier Bank, a subprime credit card issuer, is skirting new regulations intended to curb abusive practices in the industry. It’s a strategy other subprime card issuers could start adopting to get around the new rules.

You see, when the government tries to write new regulations, these companies get their team of lawyers to find a way around them.

Every.  Single.  Time.

You want the worst of it?

The terms are eyebrow raising, but First Premier targets people with bad credit who likely can’t get approved for cards elsewhere. It’s a group that tends to lean heavily on credit too, meaning they’ll likely incur steep financing charges.

That’s right.  They are purposefully out there pushing an 80% interest rate on the people who can afford it the least.  

Today, that means the person who lost their job, who might be in foreclosure, who got sick, who was forced into bankruptcy, are now being targeted by credit card companies pushing an 80% interest rate — all because they can get around the new regulations that were supposed to stop this practice.

But, we got the memo.  The health care bill will hold insurance companies accountable by instituting new regulations!  The new regulations will ensure… ENSURE… that America gets a fair deal.  We simply had to give up a public option, medicare buy-in for those 55-64 years-old, lower cost prescription drugs, and force everyone to buy an insurance policy.

Surely, with this new boon of business, the insurance companies wouldn’t find ways around these new regulations.  Right?  RIGHT????  Because we’ve tried this before, haven’t we?  We’ve seen how it works.

That’s why Rahm Emaunel has flat said, “don’t worry about the left.”  The administration has Democratic Senator’s “in line”.  Forget the base, the election is over.  All that matters now are the votes in the Senate.

You want to know why I’m pissed off with President Obama, with Rahm Emanuel, with Harry Reid?

As I type this out, it is 40 degrees outside.  My heat pump went out today.  I am going to stay up tonight, maybe all night long, keeping a fire going in my fireplace, so that me and my family have some heat tonight.

I am still unemployed.  I live in South Carolina and our unemployment rate went up to 12.3% today.  

We had to spend $90 for a new heat strip for the heat pump today, which I can’t replace until the morning because it was raining today.  We now have little money left in the bank for anything — even food.  And, we’ve got thirteen days before my wife gets paid again.

I get to read about how these companies are still finding ways to screw over the public despite regulations being passed to stop them.

I get to read about how those like Rahm Emanuel tell us folks not to worry, really, this is REAL reform this time, just don’t look at everything they’ve given up to get this bill.

I get to read people telling those like me how killing this bill is wrong because it is better than nothing, and, really, there are new regulations that will keep the insurance companies in check.  Just like the new regulations stopped the credit industry from finding new ways to charge 80% interest rates.

Luckily, I kept enough firewood so that, if it was needed, I could heat my house for one, MAYBE, two nights if our heater went out.  It did.  What am I to do now?  Get a credit card at 80% interest so I can buy food?

Because, I’m told by many “don’t worry”, we’ve got new regulations that will keep this from happening again… really… just trust us…