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FTC acts against private equity firm’s acquisition of veterinary clinics

ftc.gov

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Re: FTC acts against private equity firm’s acquisition of veterinary clinics

#41

Post by MisterTea »

Xeoncross wrote: post #24
markovbot wrote: post #6

Earlier quoted context omitted.

ah yes, a more profit driven healthcare sector, exactly what this country needs

Healthcare was more affordable back when individuals payed for it. The problem was that some could not, so we introduced insurance. At this point no one can afford it anymore without insurance. So our fix for one problem created a new problem.

What about the fact that we also introduced more complex medical procedures and developed costly technology? Plus more health care red tape and over-site increasing administrative overhead.

Perhaps the advent of insurance helped bring more advanced and therefor better medical care to the average person that would otherwise be unaffordable.

Re: FTC acts against private equity firm’s acquisition of veterinary clinics

#42

Post by 3maj »

jmyeet wrote: post #22

The term "end stage capitalism" (or the more palatable "late capitalism") I've heard a lot recently and things like this really make me wonder. The voracious and insatiable appetite for profit has led to some really disgusting practices for example: - Goldman Sachs driving up food prices, which quite literally kills people, for profit [1] - Hedge funds buying up trailer parks and jacking up the rates [2] - Medical pr…

Couple of comments.

Hedge Funds don't invest in trailer parks, if they did they wouldn't be hedge funds they would be PE firms or REIT's.

While the US Industrial Complex is a cancer to the system I don't think they're to blame for Russia invading Ukraine. Instead, the US government needs to stop non-bid contracts and paying these companies "cost + Percentage" contracts.

Also the FP article misses out on a lot of nuances in the futures markets but thats a bit too much of a pain in the ass to get into.

Re: FTC acts against private equity firm’s acquisition of veterinary clinics

#43

Post by lotsofpulp »

Xeoncross wrote: post #24
markovbot wrote: post #6

Earlier quoted context omitted.

ah yes, a more profit driven healthcare sector, exactly what this country needs

Healthcare was more affordable back when individuals payed for it. The problem was that some could not, so we introduced insurance. At this point no one can afford it anymore without insurance. So our fix for one problem created a new problem.

There is healthcare, like a broken arm.

And then there is healthcare, like diabetes, hypertension, stroke, obesity, heart disease, arthritis, old age, and end of life care.

The former is an insurable event, with low probability and relatively small costs.

The latter is inevitable and basically not insurable at any price that 95% of people can afford.

The question is really how much of society’s resources does society want to go towards those chronic and old age issues, because there can be almost infinite demand for more and more resources.

Re: FTC acts against private equity firm’s acquisition of veterinary clinics

#44

Post by munk-a »

baggy_trough wrote: post #3
lordleft wrote: post #2

Interesting. I'd like to see more action against the financialization of many other industries / domains, like healthcare and even housing, that I feel are not well served by a purely-market driven perspective. One wonders what the Private Equity firm's intention was here.

Quoted post unavailable.

Never forget that every time an anti-regulation politician gets money under the table for helping to pass terrible market entrenching regulation they win twice: once when they bring home the cash and again when they have yet another example of poor regulation to drive home their ideology.

Making broken regulations to entrench large market players is the most patriotic of pastimes in America.

Re: FTC acts against private equity firm’s acquisition of veterinary clinics

#45

Post by Xeoncross »

markovbot wrote: post #33
Xeoncross wrote: post #24

Earlier quoted context omitted.

Healthcare was more affordable back when individuals payed for it. The problem was that some could not, so we introduced insurance. At this point no one can afford it anymore without insurance. So our fix for one problem created a new problem.

if only there was some kind of other option used by all developed countries except the US... too bad there isn't, i guess i'll just die when i cant afford healthcare

What is the other option? Either insurance by private or government bodies or cash is all I've ever seen.

Government and private insurance raises prices.

Cash excludes poor people.

Re: FTC acts against private equity firm’s acquisition of veterinary clinics

#46

Post by bigdict »

Ha, Lina Khan in her interview on June 9:

> You can miss the bigger picture,” Khan said in an interview with the Financial Times. “Every individual transaction might not raise problems, but in the aggregate you’ve got a huge private equity firm controlling, say, veterinary clinics. So that’s a concern.”

https://www.ft.com/content/ef9e4ce8-ab9a-45b3-ad91-7877f0e1c...

Re: FTC acts against private equity firm’s acquisition of veterinary clinics

#47

Post by aosmith »

markovbot wrote: post #16
lordleft wrote: post #2

Interesting. I'd like to see more action against the financialization of many other industries / domains, like healthcare and even housing, that I feel are not well served by a purely-market driven perspective. One wonders what the Private Equity firm's intention was here.

> One wonders what the Private Equity firm's intention was here. no, i don't think anyone's wondering that. private equity firms have one purpose and one purpose only.

Make the pile of money bigger no matter the cost?

Re: FTC acts against private equity firm’s acquisition of veterinary clinics

#49

Post by samstave »

lordleft wrote: post #2

Interesting. I'd like to see more action against the financialization of many other industries / domains, like healthcare and even housing, that I feel are not well served by a purely-market driven perspective. One wonders what the Private Equity firm's intention was here.

Hedge funds should be 10000000% excluded/precluded and effectively illegal from owning anything but stock in a company/industry at a level whereby they cannot set profit and pricing for ANYTHING. (either invest in the company or industry, but what they do is effectively price-fixing after they get control)

Full Stop.

---

If you want to buy stock in a thing, a hedge fund should NEVER be able to have a complete controlling share.

Why? Because history shows us exactly what happens.

Funds, foundations, "private equity" are all money laundering corruption schemes at the cost of others.

THe problem is that this modality has replaced the definition of capitalism.

There are hedge funds that own over 100,000 houses, hedge funds that buy up every trailer home park they can, hedge funds that, in concert with the realty market, are the reason for high real estate prices.

Its a cancer.

Insulin Martin. is a great example of the mindset of these folks.

Re: FTC acts against private equity firm’s acquisition of veterinary clinics

#50

Post by Xeoncross »

lotsofpulp wrote: post #43
Xeoncross wrote: post #24

Earlier quoted context omitted.

Healthcare was more affordable back when individuals payed for it. The problem was that some could not, so we introduced insurance. At this point no one can afford it anymore without insurance. So our fix for one problem created a new problem.

There is healthcare, like a broken arm. And then there is healthcare, like diabetes, hypertension, stroke, obesity, heart disease, arthritis, old age, and end of life care. The former is an insurable event, with low probability and relatively small costs. The latter is inevitable and basically not insurable at any price that 95% of people can afford. The question is really how much of society’s resources does society…

This is a good point, at first insurance was for certain things. Now it's for everything including my kids toys.
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