Senate Proceeding on Nov 19th, 2009 :: 0:20:55 to 0:22:45
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0:20:45 to 0:21:06( Edit History Discussion )

Jack Reed: option mr. reed: would the gentleman yield? mr. udall: i would recognize you and get you involved in this discussion we have here on the floor. mr. reed: thank you, senator udall. senator kaufman made an excellent point. what we've seen over the last several years, actually more

0:20:55 to 0:22:45( Edit History Discussion )
Speech By: Jack Reed

0:21:07 to 0:21:27( Edit History Discussion )

Jack Reed: than a decade, is increasing cost-shift into business, sml business. this year it is predicted 15% increase in small business. that is because there is no real competition. rhode island is in that map. there are two companies that control 80% of the market. andhere's forces which you've

0:21:28 to 0:21:48( Edit History Discussion )

Jack Reed: illuminated that drive up this constant increase in cost. one is the profits. that's are organized to achieve. and if we were directors of those companies, we'd be trying to do that. and those profits are -- drive two things. one, shaeurpld return --

0:21:49 to 0:22:09( Edit History Discussion )

Jack Reed: shareholder return, profitability of the stock, and also compensation for the executive. those two phenomena will not be in place in a public option. it will be not-for-p cooperative arran so the response will not be to shareholders or to

0:22:10 to 0:22:30( Edit History Discussion )

Jack Reed: self-aggrandizement of the executives. it will be to delivering service. and that is going to be a check. what i find ironic in this whole discussion is the bold proponents of the free markets that can solve it are afraid they're afraid of public option because we can't compete with the government.

0:22:31 to 0:22:45( Edit History Discussion )

Jack Reed: their definition o is any competion. i mean,hey're probably worried about 80% shared between two companies. this is a managed environment. and year in and year out the insurance compa