Tales of the Administrative State
16th December 2015
The government is interested in creating monopolies and oligopolies that operate as public utilities, which are the functional equivalent of state-owned enterprises. “Such domestication is part of ObamaCare’s goal of political control, and it may well be that only fewer, larger and more centralized insurers can survive financially.”
Substitute “Obama” for “ObamaCare” and “companies” for “insurers” and the sentence will be true for all other industries. Since 2008, this has been occurring in my world as banking has come to be dominated by a few players who are closely tied to big government and the Democratic party, under the guise of reining in Wall Street (“Don’t let a good crisis go to waste”). The financial services industry has been dramatically reshaped by administrative agencies accountable to no one.