President Donald Trump signed an executive order last week. He halted the practice of annual bailouts of health insurance providers who were participating in his federal marketplace exchange and claimed a loss on their taxes. When the govt. creates a special classification of 'favored' corporations, winners and losers are chosen by executive fiat. In 2008 there were two big players on Wall Street. Goldman Sachs was favored and Lehman Brothers was not. Several Goldman Sachs executives helped Barack Obama get elected, and received govt. appointments. Then Goldman Sachs was propped up after the market crash of 2008. TARP money flowed to Goldman Sachs. Obama's team authorized year-end bonus pay to top Goldman Sachs executives for 2008, even though the firm was complicit in the Mortgage failures which precipitated the 2008 global market crash and 'great recession'. All of this happened in an environment where Goldman Sachs sought to influence political forces across the ideological spectrum. GS had top executives in the Bush43 administration & the Obama Administration. They prevailed whether Republicans or Democrats were in power. The federal health insurance exchange, itself, is not authorized by congress in the Affordable care Act. Obama was just 'winging it' when he decided to create the massive exchange. |
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Sooner Politics
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