During the week that ObamaCares is being reviewed by the Supreme Court, the Gingrich company that “fought” against the healthcare reform act has filed for bankruptcy.
Newt Gingrich’s LLC the Center for Health Transformation, a healthcare “think tank” that Newt claims actively campaigned against “ObamaCares”, has filed for Chapter 7 bankruptcy in Atlanta, Georgia. The company was involved health care industries and drug makers paying the company a lot of money so their voices could be heard on legislation.
The Atlanta Constitution Journal reports:
The Gingrich Group LLC, doing business as the Center for Health Transformation, filed Wednesday in U.S. Bankruptcy Court in Atlanta,, listing $1 million to $10 million in debt, with only up to $100,000 in assets. The filing was first reported by the Atlanta Business Chronicle.
Gingrich’s presidential campaign has suffered a number of recent setbacks, including the announcement that it had shed staff and that the former U.S. House speaker was trimming his campaign schedule.
The Gingrich campaign claims Newt hasn’t been involved in the company for a year now, and both he and his wife are listed as being owed money by the now busted company.
The disgraced Republican former Speaker of the House used his influence and connections to make a lot of money for himself and the companies he “lobbied” for, though Gingrich denies being a lobbyist and has never registered as one. At the same time, Gingrich bragged about killing legislation via his efforts, effectively admitting that he’s influence peddling.
Business Week reported in January of this year:
Gingrich also said he “fought against Obamacare every step of the way” as his health center “actively campaigned against it.” The center’s members included insurers, who campaigned against the legislation, and drugmakers, who supported it.
The center dispatched a dozen press releases critical of President Barack Obama’s health-care plan in 2009 and 2010, according to an archive on its website. In a March 5, 2010, release, Gingrich lauded a congressman for staying in office “to help defeat a proposal that would ruin the American health care system and increase the national debt.”
Ironies abound, but one thing is clear: Republican rhetoric against “ObamaCares” is rooted in their allegiance to corporations and not to the constitution or any other alleged ideology. Newt Gingrich used his Washington connections to grift money off of corporations whose interest he then pushed to his DC connections.
Gingrich sold his anti-ObamaCares efforts under the guise of the “national debt” and concern over our health care system, but in reality, he was looking out for the best interests of his corporate insurance company members. Now that many of those companies are owed money by Newt’s bankrupt firm, the people can take small satisfaction in the viper’s nest always taking a bite out of their own.