An inspector general report has found that the 24 health co-ops formed under Obamacare are going bankrupt, even before they have opened.

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Our government at its best: An inspector general report has found that the 24 health co-ops formed under Obamacare are going bankrupt, even before they have opened to their first customers.

And that’s not all:

Examiner Watchdog investigative reporting project focused on the co-ops began in 2012 and has since uncovered extensive evidence of financial mismanagement, conflicts of interest, failure to file required tax returns, inadequate capitalization and evasion of public disclosure requirements such as the federal Freedom of Information Act. A recent Examiner survey found, for example, that all but one of the 24 co-ops failed to file required tax returns, and several may invoke a highly questionable loophole allowing them to avoid doing so in the future. Even more troubling, two of the co-op loans were awarded to organizations headed by individuals with questionable backgrounds, the Examiner has learned, including an insider trading conviction and a history of child sexual abuse.



  • R. Cotour

    I found this very interesting on this subject. What is it that we can not see?

    Edward R. Close, PhD, PE, and Vernon M. Neppe, MD, PhD, FRSSAf, today announced a profoundly important finding that affects the basic assumptions of physics and changes the way scientists understand life and the Universe.

    “It appears that our current concept of reality is incomplete,” Dr. Neppe commented. “Dr. Close and I have demonstrated that we live in a 9-dimensional finite reality, not just our traditional three dimensions of space happening in a present moment of time. We experience physical living in our restricted 4-dimensional finite reality, but the rest of our reality appears to be hidden beyond our direct view. Yet these additional dimensions might provide many keys to life as we know it, and explain many of the mysteries of science.”

  • R. Cotour

    Sorry, that was posted incorrectly.

  • Pzatchok

    I just don’t understand when no profit organizations became an industry all unto themselves.

    The leftists will bust their ass to get a non profit working in order to pull a salary from that instead of just busting their ass to get a small business going.
    It must be some mental block in their thinking. They must think one is somehow socially better than the other.
    Profit is what pays the taxes that provide the social programs they want to keep running.All they are doing is spending all their effort in not paying taxes expecting those greedy republicans to foot the entire bill. And in this economy that is really getting hard.

    I am not surprised that after the government cash runs out they don’t have a plan to keep the organization running.

  • R. Cotour

    I know people in this game, its just a way of life and how they pay their bills, it IS an industry unto itself. For the time and aggravation that they go through I have suggested that it would indeed be easier to go “straight” and just do business. I think at the higher level, when you are able to create that tap root into government through your connections they know it never dries up. Unlike business where you are required to think and perform and then pay your bills.

  • Edward

    This is too bad. I am a fan of co-ops, such as credit unions, REI (sporting goods), and C&H Sugar. Co-ops are a perfect example of free markets finding ways to give customers better goods and services at lower prices.

    But these guys are giving co-ops a bad name.

  • Pzatchok

    They are not really Co-Ops. They are non profits running under the name of Co-Op.

    A real Co-Op wants to bring you a product at a cheaper price by volume buying. These groups can’t volume buy because no one knows exactly what the end service will need to be. IE Health care insurance.
    The requirements are changing weekly and more than likely their target demographic is more than likely the lower wage earners and they will get government subsidized insurance anyways.
    Can’t get cheaper than free.

    They don’t mind though since they all earned a good wage trying to start the Co-Op and they will just find another government subsidy to start the next one.

    Its the new liberal industry. The next best thing to a real government job.

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