Disclaimer: I apologize to Hillary Clinton up front for criticizing a Wall Street bank. I know that these criticisms might affect how much they decide to give to her 2016 presidential campaign but enough is enough.
If I could ask Hillary a question it would be: is it unproductive and foolish for McClatchy to have exposed this Wall Street-owned insurance company? Isn't this type of depraved targeting of poor people exactly what Wall Street perpetrated on Americans in the mortgage market? In every market?! Which caused the Great Recession?!
Anyhow. The Worst Insurance Company in the World, called HealthMarkets, Inc., owned by Goldman Sachs Capital Partners, The Blackstone Group and Credit-Suisse-DLJ, the Worst Financial Companies in the World, is being forced to change its entire vampiric business model because of the Affordable Care Act: they can no longer bilk Americans like the couple described in the McClatchy article below
And all those astroturf Teaparty groups who were working overtime to block the Affordable Care Act and then demagogue it after they failed to block it?
Those loyal teabag-wearing conservatives fighting for regular Americans against the Big Bad Government must be outraged that those same regular Americans are being targeted by Big Bad Wall Street. Or not. Because they get paid by Wall Street, and other Vampire Squids like the Koch brothers, to defend other Vampire Squid companies like this piece of crap Wall Street-owned insurance company.
Like millions of Americans, Capil thought she had solid individual health insurance. Then she got sick and found that her coverage was woefully inadequate.
The financial problems that followed would aggravate Capil’s health struggles, force her into bankruptcy and trigger a fraud lawsuit over $230,000 in unpaid medical bills against HealthMarkets Inc., the parent company of her former insurer.
The litigation is nothing new for HealthMarkets. The North Richland Hills, Texas, insurer, formerly known as UICI, has a long history of battles with state regulators trying to root out “junk insurance” in the individual market. But numerous sanctions and a host of consumer protections in the Affordable Care Act have put a financial squeeze on the company and forced it to change its business model.
Beginning in January 2014, the health care law prohibits the kind of limitations, exclusions and benefit spending caps that made Capil’s coverage so problematic.
[snip]
The complaints are a familiar refrain for HealthMarkets, which is owned by three prominent Wall Street private equity firms: Goldman Sachs Capital Partners, The Blackstone Group and Credit-Suisse-DLJ Merchant Banking Partners.
http://www.mcclatchydc.com/...
The truth is: most Tea Party Republicans really don't care about Americans. They care about their particular religious sect in their particular part of the country, EVEN IF THEIR OWN PEOPLE GET TARGETED, which they do. But ideology trumps reason apparently.
They know Wall Street owns them, at least the more educated Teapartiers. And they think it is ok for companies to be fraudulent and bilk regular people because they actually believe the market will correct itself ...either that or ideology trumps evil.
Except the market never itself corrects such junk companies selling junk, who prey on poor people that don't read the fine print.
The Tea Party is a Wall Street-devised, Wall Street-owned bunch of astroturf hacks. Also known as the Republican Party.
The article goes on to explain the story of the victim of this Wall Street-owned insurance company and how they are being forced to stop sucking the life out of Americans, the poor job creators.
It takes a village?