I don't know if you've read John McCain's health care plan. He was so enamored of banking deregulation, he wants to transfer that "success" over to health care and put your coverage in the hands of the market.
Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.
That's from an article McCain authored in which he gives his argument for his vision of a health care plan that relies on the market to self-regulate a health care plan right into your lap1.
You may have caught this I'm-certain-it's-completely-unrelated story yesterday in which Alan Greenspan concedes a flaw in an ideology which placed too much faith in markets driven by greed:
Greenspan Concedes Error on Regulation
But on Thursday, almost three years after stepping down as chairman of the Federal Reserve, a humbled Mr. Greenspan admitted that he had put too much faith in the self-correcting power of free markets and had failed to anticipate the self-destructive power of wanton mortgage lending.
"Those of us who have looked to the self-interest of lending institutions to protect shareholders' equity, myself included, are in a state of shocked disbelief," he told the House Committee on Oversight and Government Reform.
If we're lucky enough to have McCain presidency, maybe we can get an admission like this from future McCain campaign officials. But not before a bunch of CEOs get rich and a bunch of Americans go without the health care they need.
1. Thanks to Brian Igo for pointing this out on EAForums.
Posted by James at October 24, 2008 8:38 AMWhat's shocking to me is that people are essentially shocked that people are greedy bastards who will put their own interests above all others. To them I say DUH! What in human history would lead you to believe otherwise?
Posted by: B.O.B. (bob) at October 24, 2008 9:26 AM