value

1. Bank profits are highest since before the recession…: According to the Federal Deposit Insurance Corp., bank profits in the first quarter of this year were “the best for the industry since the $36.8 billion earned in the second quarter of 2007.” JP Morgan Chase is currently pulling in record profits.

2. …even as the banks plan thousands of layoffs: Banks, including Bank of America, Barclays, Goldman Sachs, and Credit Suisse, are planning to lay off tens of thousands of workers.

3. Banks make nearly one-third of total corporate profits: The financial sector accounts for about 30 percent of total corporate profits, which is actually downfrom before the financial crisis, when they made closer to 40 percent.

4. Since 2008, the biggest banks have gotten bigger: ... the nation’s biggest banks — including Bank of America, JP Morgan Chase, and Wells Fargo — are now bigger than they were pre-recession. Pre-crisis, the four biggest banks held 32 percent of total deposits; now they hold nearly 40 percent.

5. The four biggest banks issue 50 percent of mortgages and 66 percent of credit cards: Bank of America, JP Morgan Chase, Wells Fargo and Citigroup issue one out of every two mortgages and nearly two out of every three credit cards in America.

The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.

Not only the economic, but also the personal relations between men have [the] character of alienation: instead of relations between human beings, they assume the character of relations between things. But perhaps the most important and the most devastating instance of this spirit of instrumentality and alienation is the individual's relationship to his own self. Man does not only sell commodities, he sells himself and feels himself to be a commodity. The manual labourer sells his physical energy; the businessman, the physician the clerical employee, sell their "personality". They have to have a "personality" if they are to sell their products or services. This personality should be pleasing, but besides that its possessor should meet a number of other requirements: he should have energy, initiative, this, that, or the other, as his particular position may require. As with any other commodity it is the market which decides the value of these human qualities, yes, even their very existence. If there is no use for the qualities a person offers, he has none; just as an unsaleable commodity is valueless though it might have its use value. Thus the self-confidence, the "feeling of self", is merely an indication of what others think of the person. It is not he who is convinced of his value regardless of popularity and his success on the market. If he is sought after, he is somebody; if he is not popular, he is simply nobody. This dependence of self-esteem on the success of the "personality" is the reason why for modern man popularity has this tremendous importance.

The 2,000-page piece of legislation, according to figures compiled by Physicians for a National Health Plan (PNHP), will leave at least 23 million people without insurance, a figure that translates into an estimated 23,000 unnecessary deaths a year among people who cannot afford care. It will permit prices to climb so that many of us will soon be paying close to 10 percent of our annual income to buy commercial health insurance, although this coverage will only pay for about 70 percent of our medical expenses. Those who become seriously ill, lose their incomes and cannot pay skyrocketing premiums will be denied coverage. And at least $447 billion in taxpayer subsidies will now be handed to insurance firms. We will be forced by law to buy their defective products. There is no check in the new legislation to halt rising health care costs. The elderly can be charged three times the rates provided to the young. Companies with predominantly female work forces can be charged higher gender-based rates. The dizzying array of technical loopholes in the bill—written in by armies of insurance and pharmaceutical lobbyists—means that these companies, which profit off human sickness, suffering and death, can continue their grim game of trading away human life for money...

The health care reform bill, to quote a statement released by PNHP, has instead “saddled Americans with an expensive package of onerous individual mandates, new taxes on workers’ health plans, countless sweetheart deals with the insurers and Big Pharma, and a perpetuation of the fragmented, dysfunctional, and unsustainable system that is taking such a heavy toll on our health and economy today.”

This legislation moves us further in the direction of the commodification of health care... It requires people to purchase health insurance. It takes public dollars to subsidize the purchase of that private insurance. It not only forces people to purchase this private product, but uses public dollars and gives them directly to these corporations. In return, there are no caps on premiums. Insurance companies can continue to raise premiums. We estimate that because they are required to cover people with pre-existing conditions, although we will see if this happens, they will argue that they will have to raise premiums.

We are still a nation full of health care hostages... We live in fear of losing our health care. Millions of people have lost their health care. We fear bankruptcy. The inability to pay medical bills is the No. 1 cause of bankruptcy. We fear not being able to afford medications. Millions of people skip medications. They skip these medications to the detriment of their health. We are not free. And we won’t be free until health care is a human right, until health care is not tied to a job, because we still have an employment-based system, and until health care has nothing to do with immigration status. We don’t care if you are documented or undocumented. It should not matter what your health care status is, if you have a disease or you don’t. It should not matter how much money you have or don’t, because many of our programs are based on income eligibility rules. Until we abolish the private, for-profit health insurance industry in this county we are not free. Until we take the profit motive out of health care we cannot live in the way we want to live. This legislation doesn’t do any of that. It doesn’t change those basic facts of our health care system.