Subject: txt crpt lbrty mny hcare gdd -
Energy and Commerce Committee Chairman Henry Waxman, D-Calif., has cancelled a hearing intended to grill CEOs who took a charge against profits because of the health care reform bill. Waxman and others had reacted with outrage and accused the companies of doing it - in essence, to make health care reform look bad.
The cancellation came after they realized what everyone already knew - that the companies were required to do what they did because of accounting rules.
AT&T took a $1 billion charge and other companies including Caterpillar, John Deere, and Valero Energy, and 3M took hundreds of millions in anticipation of the health care bill's financial impact to the companies...
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