Trump vs Da Fed 2.0

[RE]

As if the horrors perpetrated by the Insurance industry in denying health care coverage to people who paid them for protection from the ever escalating costs of getting medical care wasn't enough, now the rich are asset stripping hospitals and clinics that serve the poor and sending them into bankruptcy.

Private equity firms have been doing this since the 80s in many industries by gaining control over a company, then systematically selling off assets, neglecting maintenance and not paying vendors while the management pays themselves large bonuses and hands out big dividends to the stock holders.  Once the company has been bled dry and loaded up with as much unpayable debt as they can get from the banks, they declare bankruptcy and cut and run.

The hospitals they leave behind are in such bad shape nobody wants to buy them, which means unless Da Goobermint steps in and turns it into a publicly run hospital, it has to close leaving the location it used to serve without any acute care facility.  In the neighborhoods where this happens, the local goobermint doesn't have the money or resources to run a hospital sso without some private buyer they have to close.

This is yet another demonstration of how come medicine and health care cannot and should not be run as a For Profit capitalist enterprise.  You have two principles which are fundamentally at odds, which is that for health care the primary responsibility is the health of the patient while for a corporation the primary responsibility is to the wallets of the stockholders.   Unethical owners will keep cutting care and costs to maximze short term profits, draining as much as they can out before declaring bankruptcy and walking away with the money, leaving the debts to be paid by the taxpayers.

In any sane society, people would demand the industry be socialized, but of course here in the FSoA socialism in any form has been so thoroughly demonized this nonsense continues and will continue until we get total collapse.

https://www.msn.com/en-us/money/companies/healthcare-giant-with-166-clinics-across-the-us-plans-to-ax-half-of-their-hospitals-amid-bankruptcy/ar-BB1roSfE

https://www.bostonglobe.com/2025/01/13/business/prospect-medical-bankruptcy-private-equity/

'Possibly the worst example of private equity greed': In Prospect Medical bankruptcy, echoes of Steward

[RE]

Looks like El Trumpo is going to be at war with the Banksters right outta the starting gate.  It will be interesting to see how he tries to pressure them and how they react/retaliate.  Even more interesting will be his selection of a new Chairman when JPs term runs out in 2026.  If they follow the rules, Trump doesn't get to make the nominations, so I'm sure that will bug him.  He'll want to appoint one of his Billionaire Buddies to the post for sure.  So before nomination time, I'd look for him to try and get the rules changed on nominations.

As I mentioned, going to battle with the Bankster Cartel is probably the most dangerous thing a politician can do.  Particularly if we have economic problems surfacing around that time, for sure El Trumpo will attempt to drop all the blame on Da Fed.   Inflation, Recession or a market crash could really make things exciting.

https://www.cnbc.com/2025/01/29/trump-accuses-fed-powell-of-creating-inflation-on-heels-of-rate-decision.html

RE

[K-Dog]

This is yet another demonstration of how come medicine and health care cannot and should not be run as a For Profit capitalist enterprise.

True that.