Bailout Charley: Crony Capitalism Comes Home To Roost

Is anyone else just a tad sickened by Mr Baker being given an entirely free pass at embellishing his otherwise blank publicly viewable resume?

I think its far past time that we take a closer look at Mr Bakers lengthy list of accomplishments. While we know very little about his backroom dealings at the Pioneer Institute, we do know a bit about his tenure at Harvard Pilgrim. It can be summarized by one phrase. Government Bailout.

http://www.boston.com/news/dai…

In a theme that is being played out all too often lately, the Celluci’s administration apparently worked out a deal with Charley that left us taxpayers at considerable risk.

This comes on the heels of a recent plan authorizing Harvard Pilgrim to borrow $90 million secured by its computer equipment. You can imagine how valuable those computers will be in a year or two.

The claimed benefit to citizens, increased competition is entirely a lark as it was the very regulatory agency that restricted outside competition that granted final approval for Charley’s bailout. And the reward to the taxpayers that would foot the risk … A large spike in insurance premiums.

Baker said the company has taken other measures as part of its turnaround. It will increase premiums by 15 percent in Massachusetts and by 20 percent in New Hampshire and Maine

As we watch the news today and see the ING execs lavish themselves with a new round of bonuses we should draw some satisfaction from knowing that we have amongst us a true pioneer in this innovative way of thinking.

Charley Baker: Privatize Profit; Socialize Risk.

While I dont agree with many of Baker’s spoken policy stances and I absolutly abhor his choice of Tisei for LG, it is his embrace of Crony Capitalism that bother me the most. Anyone who considers themseleves to be truly free market pro business KNOWS that it is this very type of shady backroom behavior that diminishes us a free society. It stifles growth, innovation and competition and there should be NO PLACE for its champions amongst us and certainly not in our leaders.

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