A federal judge in Florida has ruled that the president’s health care overhaul, “Obamacare,” is unconstitutional. The judge based his ruling on the unconstitutionality of the law’s individual mandate. The ruling affects the 26 states who had joined together to file a case against the law, but also has implications for the entire country.
From here. The legislation requires a regulatory council to look for threats to the system, creates a consumer protection bureau, forces large failing firms to liquidate and polices financial instruments that have been largely unregulated. It would assess a fee on large banks and hedge funds to pay for the $19 billion (euro15.5 billion) costs of the bill.