I Thought Enron-Style Accounting Was Bad.
For months, businesses small and large have been saying to all and sundry that if Obamacare passed, they would either have to shell out a truckload of money or reduce the amount of coverage they offered their employees. Democrats, who generally think of accounting rules like small children think of Brussel sprouts, decided to ignore them in favor of the more pleasant fiction that they could ignore the laws of economics. Well, reality interposed itself and, boy howdy are the Democrats steamed.
Henry Waxman, reprising his role as a rat-faced Harry Potter villain, and Bart Stupak, fresh from his heel-turn, have decided that the rules of accounting must bend to their ridiculous fantasies and they’re willing to abuse their authority to make that happen. The pair has summoned the CEOs of several companies to appear before them on April 21st to explain their actions. Behold, the Reality-Denying Quote of the Year:
These assertions appear to conflict with independent analyses, which show that the new law will expand coverage and bring down costs.
Powerline sees this as a vengeful fit of pique, and I’m in no mood to look for reasons to say otherwise. As both Moe Lane and the Wall Street Journal point out, these companies had no choice but to report their losses, which could well top $14 billion dollars as more companies do their fiscal duties, as soon as they were able. This hearing “request” is a crystal-clear message the Democratic Party to every business in America: make with the sleazy Enron-style accounting now or we’ll haul you in front of a Congressional hearing and punish you.
I would love to see these CEO’s send back a two-word reply ending in “you”. Neither Waxman nor Stupak have the authority to summon so much as a diseased flea, much less a citizen of our United States before them to answer for anything. Oh sure, the Dimwit Duo would certainly hold their little kangaroo court and find the absent CEOs guilty of everything from malfeasance to the heartbreak of psoriasis, but that’s a fait accompli. There’s no reason for a CEO of a company to interrupt his important business to helping to drive our economy out of the ditch into which the Democrats have firmly buried us. Let them send some mid-level accountant to read the relevant sections of Sarbanes-Oxley and the other accounting laws demanded by Democrats in the past few years as explanation for their actions. Let Henry Waxman and Bart Stupak eat the dry stale toast of accountant-speak until what little brains they have dribble out of their ears.
Other Posts of Interest:
- He Wasn’t Admitted for Repetitive Truth-Telling Disorder, Either.
- Help a Democrat? Oh, You Betcha!
- The Warrior and The Weasel
Category: Health Care Craziness, Our New Democratic Overlords, The Rise of the Nanny State
Stop with the nice speak for Henry Waxman .. He doesn't deserve the honor of being a Harry Potter villain. Hes helped wreck California and wants to make the rest of the Country just like that.
[...] for the aforementioned fun!Kim and I spent much of the first half making fun of Henry Waxman for his juvenile insistence that black-letter accounting rules suddenly give way to his cloud cuckoo land fantasies. There is [...]
[...] for the aforementioned fun!Kim and I spent much of the first half making fun of Henry Waxman for his juvenile insistence that black-letter accounting rules suddenly give way to his cloud cuckoo land fantasies. There is [...]