Insurance-Company Bailouts | National Review Online: "Among the many legitimate criticisms of the 2008–09 Wall Street bailout was that it created a situation in which profits are private but losses are public, being borne by taxpayers who extended liberal loans and outright subsidies to various firms in order to head off total paralysis in the credit markets. Critics right and left regarded the combination of private profits and public losses as inherently objectionable — but Barack Obama and congressional Democrats apparently saw in the Wall Street bailout a model for health-insurance reform. And, surprise: Buried deep within the Affordable Care Act are not one but two provisions to provide preemptive bailouts to insurance companies in the event that their finances should be overwhelmed by unanticipated circumstances — for example, a catastrophically incompetent rollout of the program that left them overburdened with high-cost sick and elderly clients. This is one of the many distasteful results of Nancy Pelosi’s pass-it-to-find-out-what’s-in-it style of legislation."
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