I would reincorporate many of the aspects of the Glass–Steagall Act. I would repeal the Gramm–Leach–Bliley Act a republican debacle that got us into this mess in the first place. It was the Act that overturned Glass-Steagall that permitted banks, insurance companies, and investment houses to merge. So rather than make prudent investments as banks once did they were using your deposits like a front man for a two bit gambler. It's all come down to selling products and thereby making fees commissions and points. Then there was the rating agencies who were paid by the bank insurance and investment companies. If that's not a conflict of interest I don't know what is. Nothing like having your used car appraised by another used car salesman who works for the same dealer.
Congress keeps throwing more tax breaks at business. That's not the problem. That's working the problem from the top down when the problem starts at the bottom. There is a lack of demand. Why? Because unemployment is at near 10% and those that are working have had their hours cut due to that lack of demand. Those working are worried they'll be the next to hit the unemployment line so they are cutting back on their spending as well. I don't care if they call this a recession it's really a depression.
Who got bailed out in all this and what else needs to be done? There's Wall Street that really needs to be revamped. Where else can you bet that a company will fail when you have control over the operations and outcome of that company? It would be like me building a deck on your house, doing a shoddy job, then taking out an insurance policy against it's failure. I get paid for the deck then again when it fails. But you say the work was shoddy? That's not what my rating guy said and he wouldn't lie I pay him well. So I'd outlaw the hedge funds unless you owned the asset you're insuring.
Insurance companies have made out like bandits but they have one sticking point that they're trying their best to get rid of. That would be the requirement that 85% of their premiums must go to actual coverage. They have four years to raise rates to cover their profit margins. They'll easily dump the sickly by making premiums so high for them they'll have no choice but to go uncovered. Just a few years ago a doctor visit was about $40 it now averages $100 and the doctor isn't making that. He's now tied to a clinic or medical group because he's been locked in by the insurance companies. Either sign with us or have no payments from our insurance. Then there's the layers and layers of billing to add to the costs as well as administrative costs. Now I have to wonder exactly how the insurance companies and their lawyers are looking for ways around all this because you know they've thought of all this even before the ink was dry on the bill.
Then there's the drug companies. It used to be that part of the profits from the cheaper drugs went to keep the costs of the orphan drugs (uncommon ones for rare diseases) down and provide funds for research. Not so anymore. The orphan drugs cost enough to make you an orphan and just pray the doctor will provide you with a generic lest they drain your bank account just to stay alive. When drug companies primary purpose is for profit we their lab rats get to experience medications for problems we never knew we had and were never a problem until now. Do we really need a drug for twitchy legs or ingrown hairs especially when the side effects just might kill you? But that's okay because they have a drug to combat the side effects. Ask your doctor for details. Yeah right, ask the guy who's the paid pusher for the drug companies.
My opinion. Health care and drugs should not be for profit and too that end there is a loophole in the health care act that permits states to opt for a public option. My state has such a plan but at present it's as expensive as a COBRA. I can only hope that states can join together to bring costs down.