Ed Markey

Greed thrives in the dark. And turning on the lights will help.

They kept the State of Massachusetts in the dark. They refused to provide the information necessary for the state to be able to make a determination as to the financial condition of Steward.

Can we really have accountability of corporate greed without greater transparency in this one sector, the health care sector, that affects every family in our Country?

Federal and state regulators should think once and think twice, and think three times, before they let another corporate investor suck more money out of the Steward system.

Right. So going in, they would want you to think that if anything went wrong, it was because of benign neglect.

Instead of health care experts, you do have wealth care experts.

Thank you. And, Dr. Stinson, could you expand on how these for profit hospitals interfere in-- operationally with the delivery of equity and justice, especially for Black and Brown and immigrant communities that are most in need of health…

The pursuit of profit ought to have, at most, a very, very limited role to play in navigating our way to the health and health care system we need and can afford, where the patient truly comes first.

To be clear, I would forbid private equity firms from owning or controlling health care delivery.

I commend Senator Warren for her proposed 'Stop Wall Street Looting Act,' which would close many of the loopholes used by the private equity players.

If that courage were available--and I think you see it in this room in Senator Markey and Senator Warren--then we know at least where to begin to prevent other Steward-like disasters.

We should forbid the typical private equity approach of loading health care organizations with debt, extracting capital, and leaving stripped down organizations in bankruptcy or worse.

If that courage were available, and you see it in this room in Senator Markey and Senator Warren, then we know at least where to begin to prevent other Steward like disasters and to restore patients' needs to the forefront of our…

Thank you for inviting me to testify at today's important hearing.

Thank you so much for your--thank you so much for your testimony.

Together, we will guarantee every American a health care system, not a wealth care system.

Thank you for joining us today for the hearing, When Health Care Becomes Wealth Care, How Corporate Greed Puts Patient Care and Providers At Risk.

Thank you especially to my colleague and partner, Senator Warren, for all of her work on these issues.

The corporate practice of medicine puts profits before people.

Thank you, Senator Markey, for giving us a powerful tool for the job.

Throughout your career, you have worked to make government serve the common good.

We have to protect it against the predators who are looking at this, our health care system as just another way of making themselves more wealthy.

Fighting against corporate greed is going to be an uphill battle, but it is what Senator Warren, and I are promising you here today.

When you remove a facility from a community, they no longer will maintain that ability to live prosperous lives.

Yes. And I think that no resounds throughout the room in terms of this balance of power at the corporate boards.