Congressional inquiry confirms: Waxman is an idiot*.
So, let us review the sequence of events leading up to this confirmation:
- Rep. Henry Waxman – and a whole other number of Members of Congress, all of whom can be identified by the D after their names – vote for a health care bill that will cost the American people a ridiculous amount of money.
- A variety of companies, upon being informed that this has happened, turn around and report to their stockholders that said companies are about to take a hit on their profits because of this bill. This is otherwise known as ‘accounting basics.’
- That these reports were generated would only be a surprise to anyone who was pig-ignorant of the requirements of 8-K disclosures.
- Waxman and other Democrats, surprised that these reports were generated, declares that he will investigate this outrage. Inquiries are begun.
- Much mockery ensues. As well as a good number of observations that this was one of the problems with the notion of Obamacare in the first place.
- The investigation into the nefarious companies is quietly dropped.
- Unfortunately for Waxman and his colleagues, once you start an inquiry, it’s kind of hard to stop (we call this bu-reau-crat-ic in-ert-i-a: annoying, isn’t it?).
- Said inquiry is now out, and it concludes that, yes, the companies were doing what they were supposed to be doing all along.
All in all, I of course would like to thank the Representative from Beverly Hills, CA for his participation in the democratic process. But perhaps Congressman Waxman should focus his future energies on less… challenging… issues in the future? Surely there’s something going on with the plastic surgery or exotic pet industry that he could involve himself in, and thus please his core constituency…
*Not that they can actually say that: aside from everything else, the inquiry presumably involved Democratic staffers. But seeing as we of the blogosphere are the political world’s monsters from the id, there’s no reason for me not to provide an accurate translation…
Crossposted to Moe Lane.