Friday, December 11, 2009

Banner Day for Ghostly Corporacrats

From health care to financial reform, Congress caved on regulations. Corporacrats united in Capital chambers on behalf of their big money sponsors. Three Ghosts took them on a tour, after which Congress took appropriate action.

The Ghost of Armageddon Past visited regarding financial regulation. AP reported:

Prodded by moderates, however, nearly half the Democrats teamed up with Republicans late Thursday to loosen restrictions on derivatives and reject tougher (financial) regulations.

The Ghost of Health Insurance Future showed next:

A loophole in the Senate health care bill would let insurers place annual dollar limits on medical care for people struggling with costly illnesses such as cancer, prompting a rebuke from patient advocates.

Officials of the American Cancer Society Cancer Action Network said they were taken by surprise when the earlier ban on annual coverage limits was undercut, adding that they have not been able to get a satisfactory explanation.

"We don't know who put it in, or why it was put in," said Stephen Finan, a policy expert with the cancer society's advocacy affiliate.

The Ghost of Financial Christmas Present showed:

The House has rejected an effort to expand a Wall Street regulation bill with mortgage relief that would let debt-ridden homeowners reduce their payments in bankruptcy court. The vote was 241-188 to reject.
Corporations can cram down debt holders without triggering credit default swaps. They get a tax break for buying back debt for pennies on the dollar. Individuals can do none of that.

All three ghosts made it clear; it's unseemly to corporafornicate in public. Talk populist and keep any Tiger like corporfornicating behind closed doors.

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