Thursday, October 27, 2011

Keith Olbermann reports about #OccupyWallStreet's march to St. Vincent's Hospital

#OccupyWallStreet Healthcare march to St. Vincent's Hospital is reported by Countdown with Keith Olbermann.

Keith Olbermann interviewed Dr. Steven Auerbach about the closing of St. Vincent's Hospital and the #OccupyWallStreet march for Healthcare for the 99%. (The segment about St. Vincent's and the #OWS march begins at about 0:34.)

St. Vincent’s was a Catholic-run hospital, which had a charity mission to serve the under-insured and uninsured.  St. Vincent’s lacked the corporate clout to negotiate fair reimbursement rates from profit-driven insurance companies, leading to financial instability.  Moreover, the short-term focus of the highly-paid executives and consultants pushed St. Vincent’s into bankruptcy – leading to a public health emergency:  there is now no hospital on the Westside below 57th Street.

Politicians ranging from New York City Council Speaker Christine Quinn to Manhattan Community Board 2 Chair Brad Hoylman to Mayor Michael Bloomberg did nothing to save St. Vincent's.

Two months ago, The New York Post reported that the Manhattan District Attorney was investigating whether hospital executives intentionally let St. Vincent’s fail, so that the Rudin Management Company could buy the hospital’s real estate as part of a controversial luxury condominium development project.

Rudin paid pennies on the dollar to buy the hospital’s real estate, and Rudin now stands to sell luxury condominiums and townhouses, once constructed, that are expected to have a combined fair-market value of over $1 billion.

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