I was just sitting thinking about how Congress has dropped the ball on regulating AMCs, and how we let it happen.
Let's look at how Congress' implementation of AMC's would work in other areas of business shall we....
Suppose the new Health Care reform were to work like AMCs. Doctor's would have to sign up with Insurance Companies to be part of an approved panel. They would have to either submit their fee schedule or agree to the one provided by the AMC. So now you get ill and need an operation. You call the Insurance Co. and tell them you are ill and need to see a Doctor. The Insurance Co. quotes you that operation will cost you $750 dollars. The Insurance Co sends out a broadcast message saying that they have a client that needs an operation. Doctor Smith replies to the broadcast saying that he can do the operation for $150 dollars. Doctor Jones replies saying he can do the operation for $350. Now Doctor Smith has been a Surgeon for let's say a year and has performed this operation 10 times. Doctor Jones has been a Surgeon for 15 years and done the procedure well over 100 times. Who do you think the Insurance Co is going to give the work to ?
Again, don't get me wrong, there are some good AMC businesses out there, but there are more bad ones then good....