Insurance industry will hang from rope it sold to government

“The capitalists … will work on the preparation of their own suicide.” — Vladimir Lenin*

Or as the Wall Street Journal describes:

America’s Health Insurance Plans, the industry trade group, recently said its members would accept all comers regardless of health status or previous illness — i.e., guaranteed issue — but only if the government requires everyone to buy insurance. The individual mandate will expand their business in the short term, but it won’t be long before Congress is also regulating premiums, cost-sharing and administrative expenses. Dr. Faustus, call your internist.

See the AP story on this here.

* According to Bartleby, the more popular Lenin quote that says the capitalists will sell us the rope to hang them with has not been found in his published works.

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