Senate Proceeding on Oct 22nd, 2009 :: 8:25:05 to 8:26:20
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8:25:01 to 8:25:21( Edit History Discussion )

Tom Udall: most of the market, prices went up, what does that mean with the public option and injecting competition into the whole market? mr. udall: i thankhe senator from oo. i know he tonight is leading this effort that we have on the floor and i thank you for being down here and leading the effort an showing incredible leadership

8:25:05 to 8:26:20( Edit History Discussion )
Speech By: Tom Udall

8:25:22 to 8:25:43( Edit History Discussion )

Tom Udall: on public option much but what i think it -- option. but what i think it means when we talk about the lack of competition, what that means is that this is a concentrate market. that they can basically do whatever they want and drive the premiums up and drive these incredible profits up. what -- i don't know if the

8:25:44 to 8:26:04( Edit History Discussion )

Tom Udall: senator was on the floor when we did this, but, you know, publicly traded insurance companies saw 428% inc profits over seven years. and so the lack of competion drives those profits. we're not against people making profit. it's just this is profit in terms of health care.

8:26:05 to 8:26:20( Edit History Discussion )

Tom Udall: and so let's compare it, to answer your question, one of the things that i think is important to compare, let's look at the high-tech industry, they have six, seven companies competing against each other driving the costs down.