Break 'Em Up!

That's right, treat 'em like they did the old Standard Oil back near the turn of the 20th-century.

'Talking about the big insurance companies, who look like they might have their anti-trust exemption lifted--this from "The Hill" today:

Senate Democrats to strip health insurers of antitrust exemption

By Michael O'Brien - 10/21/09 11:04 AM ET

A group of Senate Democratic leaders is set to announce that they have decided to strip health insurers of their antitrust exemption on Wednesday.

According to a post on Twitter from Senate Majority Leader Harry Reid (D-Nev.) this morning, Reid, Senate Judiciary Chairman Patrick Leahy (D-Vt.), and Democratic Caucus Chairman Chuck Schumer (D-N.Y.) would make the announcement about the antitrust rules this morning.

Reid tweeted Wednesday:

Leahy, Schumer and I will announce today @ 11:30am ET that we will strip the health ins industry of its exemption from antritrust laws

The move mirrors actions taken by House leaders to also include the change in antitrust rules in their version of health reform legislation.

The House and Senate Democrats' jab toward insurers also comes after the industry had launched critical reports over the differing health bills, warning that the reform plans would result in higher premiums for consumers, were they to become law.

Reid's words serve as confirmation that the Senate will move on the initiative, first floated by Leahy, after momentum appeared to move toward the new antitrust rule.

(Courtesy: THE HILL'S TWITTER ROOM, October 21, 2009)

And you thought Congress had no common sense left! This is something that moderates everywhere should not only applaud--they should give it a standing ovation. Put simply, big insurance basically has no competition, and each company basically agrees to just split up the collective turf. If any measure(s) make their way through the guts of the legislative process, they have the power to collude and then jack up rates so they can keep astronomical profit margins the status-quo--and keep anybody else from competing. Much like ol' Standard Oil did back before the Sherman Anti-Trust force the big break-up back in 1890.

That was good for America back then, and it'll be good for America in 2009. It doesn't take a genius to understand that too much power in too few hands equals tyranny. And that's what big insurance has become--a collective tyrant. And the tyrant needs to be bent over the country's knee, spanked, and sent to his room. I think the same should be said about big banks, and if the trend continues, big government. But the same truth holds true: too big with too little regulation equals BIG problems. And if what transpired today turns into full revocation, there will be one less big problem for moderates--not to mention the left & right wingnuts--will have to yammer about.