The reason why any privatized organization dies off is simple...
New options arise giving more affordable choices to consumers. The old companies, stubborn in their ways fail to keep up with new, developing standards. While the new competition provides what the public wants for less, the old companies blame it on everything else and raise prices to make up for their so-called lost profits. That in turn, forces more people to leave the old companies and go toward the new standard. Eventually, the old companies die out because of their OWN incompetence or drive to stay competitive.
The same thing happened in the music industry from vinyl, to cassette, to CD, to the MP3. It's happening in the world of print with newspapers & books going the way of the Audiobook, the blog and the PDF download. With new standards in streaming & video technology, movies are next. And let's not get started with the American car industry.
If any private health insurance company fails, it's all because THEY couldn't keep up with changing standards. End of story. This blaming Obama and the government for it is a load of disingenuous bullshit from those who can't think beyond their own partisan beliefs. This is supposed to be a "Free Market", right? Well then... play the game or get out of it.
