And TARP. And Dodd-Frank.
So says Robert Romano for Investors.com here:
[ObamaCare] guarantees customers to large companies, in this case insurance providers that supported passage of the legislation, and in the process cartelizes the system.
In other words, private profits are being embedded into the law, and enforced by the bureaucracy, which will levy fines on individuals and employers that fail to comply with the mandates. ...
[T]he level of state control in this new system, and insurance industry participation in implementing it to its own benefit, is undeniable. It is corporatism defined.
One could compare it to the National Industrial Recovery Act of 1933 that implemented the National Recovery Administration, which may have been patterned after Mussolini's labor laws, as summarized in a 1991 Yale Law School study by James Whitman, before it was subsequently overturned by the Supreme Court.
Or the Federal Reserve Act of 1913, which gave privately owned banks the power to appoint regional Fed chairmen and outsourced creation of the public currency to a banking cartel.
Or more recently, one might examine the Troubled Asset Relief Fund (TARP), Dodd-Frank's "orderly liquidation fund" and the Fed's continued mortgage-backed securities purchase program — all bailout programs that privatize profits and socialize losses in the financial sector. More corporatism.
This country has been a veritable cornucopia of fascism since the days of Woodrow Wilson and FDR.
Has free market capitalism failed in the United States? It's hardly been tried.
So says Robert Romano for Investors.com here:
[ObamaCare] guarantees customers to large companies, in this case insurance providers that supported passage of the legislation, and in the process cartelizes the system.
In other words, private profits are being embedded into the law, and enforced by the bureaucracy, which will levy fines on individuals and employers that fail to comply with the mandates. ...
[T]he level of state control in this new system, and insurance industry participation in implementing it to its own benefit, is undeniable. It is corporatism defined.
One could compare it to the National Industrial Recovery Act of 1933 that implemented the National Recovery Administration, which may have been patterned after Mussolini's labor laws, as summarized in a 1991 Yale Law School study by James Whitman, before it was subsequently overturned by the Supreme Court.
Or the Federal Reserve Act of 1913, which gave privately owned banks the power to appoint regional Fed chairmen and outsourced creation of the public currency to a banking cartel.
Or more recently, one might examine the Troubled Asset Relief Fund (TARP), Dodd-Frank's "orderly liquidation fund" and the Fed's continued mortgage-backed securities purchase program — all bailout programs that privatize profits and socialize losses in the financial sector. More corporatism.
This country has been a veritable cornucopia of fascism since the days of Woodrow Wilson and FDR.
Has free market capitalism failed in the United States? It's hardly been tried.
