A brief excerpt from Monday morning’s lengthy Morning Jolt:
Hey, thanks for getting our backs in the big health care fight, corporate America. As we watch company after company declare the intense financial hit they’re immediately taking from Obamacare, I can’t help but think how useful this information is . . . if we have access to a Hot Tub Time Machine. Otherwise, it’s about two weeks after when it would have packed the most punch in persuading those wavering House Democrats that they didn’t want to vote yes — too much immediate economic downside, and too much political fallout to go with it . . .
Dennis the Peasant thinks Waxman leaping without looking, and about to have the roughest landing since Super Dave Osborne: “Beyond that, you can bet the staffers working for Democratic Representatives sitting on the Energy and Commerce committee, and especially those involved with Energy and Commerce’s investigation subcommittee are, at this very moment, completely horrified. They’re quite aware, even if Waxman isn’t, that because each of the companies named above have filed a Form 8-K and booked losses related to the event described in the Form 8-K, those companies have documentation that has been labored over by tax and accounting professionals for months, and then reviewed thoroughly by the company’s independent auditors . . .
“What Waxman is now laying himself open to is the charge that he is attempting to force these companies to manipulate their financial data to suit the political aims of President Obama and Congressional Democrats. Since there is absolutely no hope of investigative committee staffers finding evidence that AT&T (or others’) calculations are materially incorrect, Waxman simply comes across attempting to force the managements of publicly held companies to circumvent the law.”