Right after the signing of Placebocare, several prominent companies including AT&T, Caterpillar and Verizon, noted that they were taking significant financial charges to recognize the new costs imposed by the impostor reform bill. Democrats took offense at the notion that laws that they so vigorously support i.e. Placebocare and SEC full disclosure rules, along with their own ignorance, had set themselves up to be shown as fools. Their solution? Call hearings to discredit and badger the companies giving them the black eye.
Yesterday, we hear that Henry Waxman has decided to cancel the hearings that would have had the previously mentioned companies explain themselves to Congress. Ostensibly, the cancellation was at the request of several of the companies slated to testify. According to Waxman:
“Companies like AT&T, Verizon, and a range of stakeholder associations are hopeful that the benefits of the new law will outweigh the costs,” Waxman stated.
Yeah, I guess that could have happened. But, let me ask you this; which of the following two scenarios do you think is most likely?
Scenario A: Companies who paid a bunch of money to consultants and attorneys for the purpose of understanding placebocare. After getting information that said “bleed red ink NOW”, have now come to the conclusion that they really have no conclusion about the future costs of health care and they’re willing to give Congress the benefit of the doubt on Placebocare?
Scenario B: Henry Waxman had no idea what actually is in Placebocare. After getting his bald head pulled tighter than a pair of lycra pants on Michael Moore, he launched his hearings to make sure people didn’t think Democrats were fools. However, following scalp relaxation therapy, Henry learned that not only were the SEC filings proper, they were required by law. Henry also was told that hearings would only serve the purpose of removing any question that the Democrats had/have no idea what is in Placebocare nor the implications of it on the American people and businesses. Henry, wanting no further embarrassment, decided the cancel the hearings.
Yeah, me too!