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Hatch and other Republicans argue the public option would create a subsidized competitor that would drive private insurers out of business, leading to the government taking over the health care system.
What happens to private equity may be a leading indicator of how the crisis in the financial system will affect the rest of the business world, both because private-equity deals are so dependent on large amounts of debt, and because many of the shrewdest judges of corporate value work for private-equity funds.