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The healthcare industry doesn't need a bailout, though, so the US has no leverage to demand 10% of healthcare companies' stocks.

bdangubic 1y ago
The “US” you are referring to no longer exists. It has been replaced by a combo of North Korea and Venezuela :)
TehCorwiz 1y ago
The healthcare industry as it is is dominated by parasitic middlemen sucking the money from both patient and provider.
vjvjvjvjghv 1y ago
The healthcare industry is receiving perpetual bailouts through drug import restrictions, tax deductions, subsidies and favorable legislation.
- aspenmayer 1y ago
  > The healthcare industry is receiving perpetual bailouts through drug import restrictions, tax deductions, subsidies and favorable legislation. The chip fab industry builds billion dollar bespoke superfund sites, and they're paid for the privilege. https://www.jstor.org/stable/j.ctv65swcp.5 https://www.jstor.org/stable/j.ctv65swcp.5 | https://doi.org/10.2307/j.ctv65swcp.5 https://doi.org/10.2307/j.ctv65swcp.5 https://en.wikipedia.org/wiki/Superfund https://en.wikipedia.org/wiki/Superfund
kelnos 1y ago
> the US has no leverage to demand 10% of healthcare companies' stocks The US government doesn't need leverage. It just needs an act of Congress. Corporations are convenient fictions that exist at the pleasure of our legal system, which can be changed.
- aspenmayer 1y ago
  I agree that this could be done as it has happened before, but I don’t think anyone would go quietly. It’s expropriation without pay or eminent domain if it’s with pay, but I would expect a Supreme Court challenge if Congress came anywhere near this, either way. https://en.wikipedia.org/wiki/State-owned_enterprises_of_the_United_States https://en.wikipedia.org/wiki/State-owned_enterprises_of_the...
  - hakfoo 1y ago
    A nifty play would just be "the corporate veil is no longer free. Issue the state stock for a 49% stake, or your investors have unlimited liability." Then there's a theoretical "trade" but virtually nobody's going to say no.
    - aspenmayer 1y ago
      In such a scenario, the US gov is only ~2% away from a 51% attack hostile takeover against any/every public company, depending on the kind of shares. This is not likely.
      - hakfoo 1y ago
        That's the goal. Right now, public companies are far too governed by people who want the business to succeed at all costs. The state could represent interests like "keeping high-paid jobs on-shore" or "avoid legal/labour/environmental standard arbitrage" that regular investors won't vote for.
        bdangubic 1y ago
        works for venezuela and all other commie countries so you know, why don’t we try to become that too :)
WillPostForFood 1y ago
the US has no leverage to demand 10% of healthcare companies' stocks. US federal government is the biggest player in healthcare, by far. 32% of all healthcare spending is Federal government dollars. They have plenty of leverage. Bad if they use it, but they have it. $900+ billion in Medicare yearly $600+ billion in Medicaid yearly
- aspenmayer 1y ago
  Why would the government taking a stake of the insurance companies be a benefit from the point of view of the federal government or the insurance companies? What would the value add for either party be?
  - Hikikomori 1y ago
    Can recoup some of the completely unnecessary money poured into insurance companies that shouldn't exist.
    - aspenmayer 1y ago
      That money almost seems like ill-gotten gains at this point. To a certain reading, it’s blood money.[0] If the insurance rates are too high, I don’t see how another cook in the kitchen is going to cook the books better, but I’m willing to believe that it could be a shakeup that might work. I just don’t have high hopes. [0] https://en.wikipedia.org/wiki/Famine,_Affluence,_and_Morality https://en.wikipedia.org/wiki/Famine,_Affluence,_and_Moralit...
      - Hikikomori 1y ago
        Don't worry, they're now using AI to deny claims.
  - WillPostForFood 1y ago
    You said the government had no leverage, I am pointing out they have tremendous leverage. I said it would be bad to use the leverage, so I don't think there is a benefit.

bdangubic 1y ago

The “US” you are referring to no longer exists. It has been replaced by a combo of North Korea and Venezuela :)

TehCorwiz 1y ago

The healthcare industry as it is is dominated by parasitic middlemen sucking the money from both patient and provider.

vjvjvjvjghv 1y ago

The healthcare industry is receiving perpetual bailouts through drug import restrictions, tax deductions, subsidies and favorable legislation.

aspenmayer 1y ago
> The healthcare industry is receiving perpetual bailouts through drug import restrictions, tax deductions, subsidies and favorable legislation. The chip fab industry builds billion dollar bespoke superfund sites, and they're paid for the privilege. https://www.jstor.org/stable/j.ctv65swcp.5 https://www.jstor.org/stable/j.ctv65swcp.5 | https://doi.org/10.2307/j.ctv65swcp.5 https://doi.org/10.2307/j.ctv65swcp.5 https://en.wikipedia.org/wiki/Superfund https://en.wikipedia.org/wiki/Superfund

kelnos 1y ago

> the US has no leverage to demand 10% of healthcare companies' stocks The US government doesn't need leverage. It just needs an act of Congress. Corporations are convenient fictions that exist at the pleasure of our legal system, which can be changed.

aspenmayer 1y ago
I agree that this could be done as it has happened before, but I don’t think anyone would go quietly. It’s expropriation without pay or eminent domain if it’s with pay, but I would expect a Supreme Court challenge if Congress came anywhere near this, either way. https://en.wikipedia.org/wiki/State-owned_enterprises_of_the_United_States https://en.wikipedia.org/wiki/State-owned_enterprises_of_the...
- hakfoo 1y ago
  A nifty play would just be "the corporate veil is no longer free. Issue the state stock for a 49% stake, or your investors have unlimited liability." Then there's a theoretical "trade" but virtually nobody's going to say no.
  - aspenmayer 1y ago
    In such a scenario, the US gov is only ~2% away from a 51% attack hostile takeover against any/every public company, depending on the kind of shares. This is not likely.
    - hakfoo 1y ago
      That's the goal. Right now, public companies are far too governed by people who want the business to succeed at all costs. The state could represent interests like "keeping high-paid jobs on-shore" or "avoid legal/labour/environmental standard arbitrage" that regular investors won't vote for.
      - bdangubic 1y ago
        works for venezuela and all other commie countries so you know, why don’t we try to become that too :)

WillPostForFood 1y ago

the US has no leverage to demand 10% of healthcare companies' stocks. US federal government is the biggest player in healthcare, by far. 32% of all healthcare spending is Federal government dollars. They have plenty of leverage. Bad if they use it, but they have it. $900+ billion in Medicare yearly $600+ billion in Medicaid yearly

aspenmayer 1y ago
Why would the government taking a stake of the insurance companies be a benefit from the point of view of the federal government or the insurance companies? What would the value add for either party be?
- Hikikomori 1y ago
  Can recoup some of the completely unnecessary money poured into insurance companies that shouldn't exist.
  - aspenmayer 1y ago
    That money almost seems like ill-gotten gains at this point. To a certain reading, it’s blood money.[0] If the insurance rates are too high, I don’t see how another cook in the kitchen is going to cook the books better, but I’m willing to believe that it could be a shakeup that might work. I just don’t have high hopes. [0] https://en.wikipedia.org/wiki/Famine,_Affluence,_and_Morality https://en.wikipedia.org/wiki/Famine,_Affluence,_and_Moralit...
    - Hikikomori 1y ago
      Don't worry, they're now using AI to deny claims.
- WillPostForFood 1y ago
  You said the government had no leverage, I am pointing out they have tremendous leverage. I said it would be bad to use the leverage, so I don't think there is a benefit.