Running health care industry like banking industry?
Obama has called McCain out for once suggesting deregulation of the health care industry like the banking industry.
Obama used McCain’s words "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," McCain said in the magazine in their September/.October 2007issue.
Obama read back the quote to the crowd and in astonishment said, “So let me get this straight – he wants to run health care like they’ve been running Wall Street. Well, Senator, I know some folks on Main Street who aren’t going to think that’s such a good idea.”
“I know Senator McCain is talking about a “casino culture” on Wall Street – but the fact is, he’s the one who wants to gamble with your life savings,” Obama warned.
McCain's article was published in "Contingencies" magazine last year. You cam find the article over here: http://www.contingencies.org/septoct08/mccain.pdf
In his piece "Better Care at Lower Cost for Every American", he argues, "We must address our health care problems as part of ongoing reform that respects traditional
values, reflects diverse preferences, promotes market-based competition, insists on accountability, and encourages personal responsibility.
Amid the current Wall Street crisis, who can provide the rationale for financial deregulation and promise that if we marketize health care, it will perform as well as the financial industry!
Is the US government's bailing out of American International Group (AIG), the giant insurer with the plan to buy $700 billion troubled assets, an illustration of deregulation & marketization?.