Tag Archives: Regulations

Health care is the top issue in this year’s election for everyone but lawless GOP saboteurs

Donald Trump has done everything in his power to sabotage the Affordable Care Act aka “Obamacare” out of pure spite and hatred for Barack Obama, without any regard for Americans who will be harmed by his actions.

Last month, the Trump administration announced that it would abruptly halt important Obamacare payments, leaving only two likely explanations: incompetence or sabotage. Trump’s latest move on Obamacare is incompetent — or sabotage:

The Centers for Medicare and Medicaid Services (CMS) stunned the health-care world on July 7, revealing that it would stop collecting and paying out money under the Affordable Care Act’s risk-adjustment program. The program helps level out costs among insurers participating in Obamacare marketplaces. Those with inordinately healthy — and inexpensive — customers pay to compensate those with unusually sick — and costly — customers. Without such a program, insurance companies would compete to attract only healthy customers by narrowing benefits and finding other ways to discriminate against people who need care. Insurers who were unsuccessful in deterring sick people from signing up would have to raise premiums, leading to the loss of healthier customers and a downward financial spiral. With the program in place, on the other hand, the insurers in a given market are part of a big, effective insurance pool whose risks are spread across all.

As you might imagine, Health Insurers Warn of Market Turmoil as Trump Suspends Billions in Payments:

Many insurers that enroll large numbers of unhealthy people depend on the “risk adjustment” payments, which are intended to reduce the incentives for insurers to seek out healthy consumers and shun those with chronic illnesses and other pre-existing conditions.

“Any action to stop disbursements under the risk adjustment program will significantly increase 2019 premiums for millions of individuals and small-business owners, and could result in far fewer health plan choices,” said Justine G. Handelman, a senior vice president of the Blue Cross and Blue Shield Association. “It will undermine Americans’ access to affordable care, particularly for those who need medical care the most.”

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With friends like these … Senate Democrats pass the ‘bank lobbyist act’

Only a decade after the banksters of Wall Street engaged in  casino capitalism and the largest fraud ever perpetrated in human history, nearly destroying the world’s financial system and causing the Great Recession, the banksters of Wall Street have reasserted their stranglehold over members of the U.S. Congress.

In a 67-31 vote, the U.S. Senate approved the most sweeping changes yet to Dodd-Frank that have earned bipartisan support. All present Republicans and 16 Democrats and Independent Angus King voted to approve the measure, sending it to the House.

Bennet (D-CO), Carper (D-DE), Coons (D-DE), Donnelly (D-IN), Hassan (D-NH), Heitkamp (D-ND), Jones (D-AL), Kaine (D-VA), Manchin (D-WV), McCaskill (D-MO), Nelson (D-FL), Peters (D-MI), Shaheen (D-NH), Stabenow (D-MI), Tester (D-MT), Warner (D-VA); King (I-ME).

The Washington Post reports, Senate passes rollback of banking rules enacted after financial crisis:

The Senate on Wednesday passed the biggest loosening of financial regulations since the economic crisis a decade ago, delivering wide bipartisan support for weakening banking rules despite bitter divisions among Democrats.

The bill, which passed 67 votes to 31, would free more than two dozen banks from the toughest regulatory scrutiny put in place after the 2008 global financial crisis. Despite President Trump’s promise to do a “big number” on the Dodd-Frank Act of 2010, the new measure leaves key aspects of the earlier law in place. Nonetheless, it amounts to a significant rollback of banking rules aimed at protecting taxpayers from another financial crisis and future bailouts.

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The manufactured ‘crisis’ over the Consumer Financial Protection Bureau

The latest attempt by Donald Trump to fill the D.C. swamp with his loyal cronies to destroy federal agencies he does not like is this manufactured “crisis” over who will head the Consumer Financial Protection Bureau.

This fake “populist” is actually a big supporter of the banksters of Wall Street, the The Predator Class whose unbridled avarice and greed led to The Mortgage Fraud Scandal, The Biggest In Human History, that nearly destroyed the U.S. economy and the world’s financial system.

Donald Trump, a grifter and con man himself, believes the banksters of Wall Street were the real victims in this financial scandal, and that they should be freed from the minimalist banking regulations enacted in the Dodd-Frank Act to allow them to once again prey on consumers victims again, something you would expect a grifter and con man to say. Casting Wall Street as Victim, Trump Leads Deregulatory Charge.

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The Twitter-troll-in-chief”s tweet is, of course, total bullshit, as Philip Bump of The Post explains. Trump once again rises to Wall Street’s defense:

This isn’t true: Banks have repeatedly set new quarterly records on incomes over the past several years, including in the second quarter of 2017. If that’s devastation, sign me up.

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Bloomberg News’s editorial board, in an editorial praising the watchdog agency, described some of its successes: “It created the first federal rules to make payday lending less predatory. It gave the public reams of valuable information, such as a database that allows consumers to compare credit-card agreements. Its practice of publishing complaints pushed financial institutions to be more responsive. Its investigation of Wells Fargo brought national attention to the fake-accounts issue.”

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Trump and Tea-Publicans are leaving the U.S. vulnerable to Russian cyber attacks

The social media companies Google, Facebook, and Twitter spent the past two days testifying before Congress on how Russian intelligence agencies used their media platforms to engage in a disinformation campaign to disrupt the 2016 election and undermine confidence in the American political system, and are continuing to actively do so.

We previously learned that Facebook sold $100,000 in ads to the Russian propaganda troll farm Internet Research Agency, paid for in Rubles no less. Some Facebook ads bought by Russian company may have violated US election law. Nevertheless, Facebook and Google declined under repeated congressional questioning Tuesday to commit to stop taking Russian rubles and other foreign currencies as payment for American political advertisements, despite federal election law prohibiting payments from foreign nationals. Facebook, Google won’t commit to stop taking foreign cash for U.S. political ads.

Facebook founder Mark Zuckerberg had initially dismissed the notion that fake news stories proliferated on Facebook to manipulate voters. A preliminary internal investigation by Facebook  reported that Facebook found over 3,000 ads that came from inauthentic accounts linked to a Russian group called the Internet Research Agency that operated between 2015 and 2017. Some 10 million people in the U.S. viewed at least one of those ads, with around 44 percent of those views happening before the Nov. 8, 2016 election. 10 million saw Facebook political ads posted from Russia-linked fake accounts. Prior to this week’s congressional testimony, that number was dramatically revised upward. Russian fake accounts showed posts to 126 million Facebook users:

As many as 126 million people — or one-third the U.S. population — may have seen material posted by a Russian troll farm under fake Facebook identities between 2015 and 2017, according to testimony presented by Facebook’s general counsel at a hearing before the Senate on Tuesday.

The figure is the largest yet of the possible reach Russian operatives had on the giant social platformin the run-up to last year’s presidential election and afterwards and reflects Facebook’s new disclosures that a Kremlin-linked misinformation agency used original content in users’ feeds, as well as paid ads. Previously Facebook said 10 million people saw Russia-linked advertising that sought to sway U.S. voters.

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Evil GOP bastards vote to gut Dodd-Frank banking regulations

Remember those terrifying days in September 2008 after the housing bubble had collapsed, the world’s financial system teetered on collapse, and the economy was in a free-fall?

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Yeah, Tea-Publicans in Congress hope you suffer from short-term memory loss and that you have forgotten all about those dark days.

The evil GOP bastards want to return to what they view as those halcyon days when the banksters of Wall Street ran wild in unregulated casino capitalism — speculation, fraud and theft — that nearly destroyed the world’s financial system. Not one bankster of Wall Street was ever convicted for the greatest financial crime in history, but the GOP is OK with that … the banksters are the “masters of the universe” whom the lickspittle servants of the GOP serve in Congress.

While You Were Paying Attention To Comey, House Republicans Voted For Everything Big Banks Want:

While much of the political world was watching the fallout from former FBI Director James Comey’s Senate testimony Thursday, House Republicans were jamming through a bill that would largely gut the financial regulations in Dodd-Frank, the landmark banking legislation passed in 2010 after the worst financial crisis since the Great Depression.

But instead of quietly sneaking the legislation through, Republicans were loudly touting the bill ― which passed, 233-186, with all Democrats and one Republican (Walter Jones of North Carolina) voting no ― as a major victory.

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Sen. Jeff Flake’s bill wipes out the FCC’s landmark rule for Internet privacy protection

Arizona Senator Jef Flake does not believe in your privacy on the Internet. In fact, he believes that everything you do on the Internet, from your personal information, browsing history, the apps you use, etc. is fair game for your Internet service provider (ISP) to compile a personal profile on you and to use that information for their profit, as well as to sell to third parties.

Senn. Flake introduced S.J.Res. 34, a joint resolution of congressional disapproval of the FCC rule relating to “Protecting the Privacy of Customers of Broadband and Other Telecommunications Services.”

Last week the Senate voted on a party-line vote of 50-48 to undo landmark rules covering your Internet privacy:

U.S. senators voted 50 to 48 to approve a joint resolution from Sen. Jeff Flake (R-Ariz.) that would prevent the Federal Communications Commission’s privacy rules from going into effect. The resolution also would bar the FCC from ever enacting similar consumer protections.

Flake’s measure aims to nullify the FCC’s privacy rules altogether.

Today, House Tea-Publicans voted overwhelmingly, by a margin of 215-205, to to wipe out the FCC’s landmark Internet privacy protections:

The resolution marks a sharp, partisan pivot toward letting Internet providers collect and sell their customers’ Web browsing history, location information, health data and other personal details.

The measure, which was approved by a 50-48 margin in the Senate last week, now heads to the White House, where President Trump is expected to sign it.

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