-- Connecting the dots between our economy, government and business --
Illinois Attorney General Kwame Raoul and 10 other attorneys general are joining the chorus advocating to increase oversight of private-equity health care transactions.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Maybe those SAME Fed’s can also check out how much money K. Diddy Raoul squeezed out of the minority money managers in Chicago when he was on the Pension Committee.
Easy to see how there is zero incentive to lower premiums or healthcare spending:
Medical Loss Ratio of ACA demands 85% of premiums be paid to Medical care.
So insurers bought up doctors groups and hospitals, and pay that 85% to these subsidiaries who are not bound by ACA rules to limit profits or admin costs.