Why is this a surprise. This is what Facists do.
This is what central planning looks like people. It would be better named “central intimidation”.
The need to disclose the impairmnet of earnings is not an obscure rule, but apparently neither Congress nor the administration knew about it. Any MBA knows this, and most investors do too.
These people do not have the capability to manage our economy. The new healtcare system is going to fail early.
If the leaders of the insurancer companies that write medical insurance had any sense, they would go out of bussiness today before quitting time.
They should tell congress to go $%#k themselves and read their MANDATORY SEC quarterly filings like everyone else. This is intimidation and our business leaders do not have to play ball. VERY un-American, we are looking more like a marxist regime every day thanks to the Dems.
I have made/am making phone calls today to Deere, Caterpillar, and AT&T -— and now Boeing -— giving them encouragement to stand up and tell the truth. I told them that us average folks who run businesses ourselves understand and are behind them. I said to tell Waxman and his goon squad that business IS NOT a welfare organization tasked with providing jobs and benefits for the masses -— business hires employees when there is enough work that we need more people to do it, and that benefits are used to hire and retain quality employees -— no more, no less. I said to tell the senators that people who buy stock are “loaning” money to the company with the expectation of “interest” on their investment, and that the company has an obligation to the stockholders just like it does to bankers that hold loans. I told them to stand up for business because once the government takes over the big businesses, they will be coming for us little guys as well and we don’t have the resources to fight like they can. It may not do any good, but I though a voice of encouragement just might help these guys right now!
I’d tell Thundernose:
“Exactly what LAW requires us to fly to DC to listen to you babble?”
Since free speech is a right secured by the Constitution, I’d love to see one of these CEO’s bring a title 1983 (civil rights) lawsuit against Waxman.
What we need are a lot more Ollie North moments when this backfires on them. The Clarence Thomas “high-tech lynching” speech was another good example.
“The CEOs of some of the country’s biggest companies are being summoned to Washington to defend claims that the health care reform law would cost them millions — a move Republicans say amounts to intimidation.”
Another round of companies who will be leaving this country.
Nam Vet