Here's one for the Guinness World Records people: Two New York City taxi medallions were sold last month for $1 million apiece. That's the highest price ever paid for the right to operate a car as a taxicab in The City That Never Sleeps. It's also an expensive lesson in the harm caused to consumers and would-be entrepreneurs by overregulation and the strangling of competition.
In an incredible admission of failure, the Obama administration has abandoned the long term care insurance program that was part of Obama Care. The reason: The health reform act had a provision that required the Secretary of Health and Human Services to certify that the program would be solvent for 75 years before the program could be launched.