To this day there are people who believe that the president is opposed to “corporate interests.” Most of the people who think this have not spent much time at this site it’s probably safe to say.
The truth is, so long as a corporation agrees to play and to make the administration look good, Obama is happy to become that corporation’s best friend.
The banks continue to run free with Holder throwing up his hands in the face of massive criminality. Big Ag continues to get its way with the FDA and USDA. Pharma looks forward to a huge Obamacare payday after having opposed Obamacare.
What happened? The story quotes PhRMA president Bill Tauzin, “We were assured (by the White House): ‘We need somebody to come in first. If you come in first, you will have a rock-solid deal.’”
Apparently, PhRMA agreed to $80 billion in cuts aimed at filling the Medicare drug program’s “donut hole” and to spend $150 million in advertising to support Obama in exchange for a pledge that the White House would oppose price controls and re-importing drugs. And we haven’t heard a word of criticism of the pharmaceutical industry since then.
And now Kathleen Sebelius, as we reported before, is shaking down the insurance industry to fund the rollout of the new healthcare “exchanges.” The insurance guys will probably capitulate, and the taxpayers will probably lose again on the deal.