Congress is debating healthcare reform. I’m the last person who is ever going to understand healthcare in any country, let alone how this country with all its added mess, mayhem, constant change, and so on. So I’ll keep these post very short. Not sweet, but short. I’ll depart from what may seem like a usual format and just say the following:
I spent 3.5 years at two hedge funds. These people are horrible. There are some people, and they are very notable and extremely good for our country, but the vast majority are horrendous, and redistribution of wealth should start with them.
Anyway, I don’t want to get too emotional about this. I just want to make a prediction. With my time, I’ve seen a few things. Unfortunately, I used to work in financial services and I have degrees in related fields. Economics, MBA, etc. I’ve recovered from this, and now I am obviously a writer, and I also speak 2.5 languages (2.5? Yes, because my Spanish sucks, but my Mandarin is great!), and now I have a great life, thank you very much.
From what I’ve learned, I can say this:
I see high-risk pools as something oddly similar to investments in which there are tranches with different ratings (AAA, AA, A, BBB+….D). Formally, those were just for bonds. You might remember The Big Short, and if not, you obviously remember the housing crisis and economic meltdown and homelessness this country felt and still feels to some extent after almost a decade. At that time, there was default protection for those bonds, which allowed crazy speculation on mortgage-backed securities because you could buy protection for pennies because, for some reason, everyone thought housing prices never go down and everyone pays their mortgages.
So, they were stupid. Well, now I think they want to do this with our healthcare.