Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
Gluskin Sheff's David Rosenberg reinforces his recession forecast following the Federal Reserve's September meeting.Futures Nowread more
"This would be the most profound violation of the presidential oath of office certainly during this presidency," House Intelligence Chair Adam Schiff said.Politicsread more
A 58% majority of registered voters express unease about voting for Trump, but slightly more say the same about Joe Biden and Bernie Sanders, while Elizabeth Warren fares only...Politicsread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
In 2008, presidential candidate John McCain bravely proposed a health-care reform that Fortune magazine said was a giant step toward "laissez faire liberty" in health care. He wanted to empower consumers to find the best health care and even end the tax break for employer-sponsored plans.
In 2015, McCain joined all but one other GOP senator in voting to repeal Obamacare. The next year he ran an ad in his primary campaign against a Tea Party Republican claiming he was "leading the fight to stop Obamacare." That ad helped him win 51 percent of the primary vote.
Just this year, McCain introduced a bill to "fully" repeal Obamacare and replace it with a "free-market approach that strengthens the quality and accessibility of care."
More from National Review:
Who killed Obamacare repeal? Blame Trump
When a diminishing president is a good thing
Trump, party of one
Then, last Friday, McCain faced a choice on the Senate floor. He could vote with all but two of his GOP colleagues for "a skinny repeal" bill and get to a conference committee, where negotiators from the House and Senate could devise a bill that might pass both chambers. Or he could effectively leave Obamacare in place, dooming any realistic effort at curbing it given the uniform Democratic opposition to any real reform.
McCain sided with the status quo, killing the "skinny repeal." Journalists rushed to gush over his vote, cast only a few days after a surgery to remove a dangerous brain tumor. The New Yorker's take was typical: "Throughout his political life, John McCain has for many reasons enjoyed bipartisan respect and even reverence: his independence of mind (usually), his candor (usually), his decency, his love of country."
McCain's stated reason for killing reform was that the bill in front of him "fell short of our promise to repeal and replace Obamacare with meaningful reform." True enough, but this is a perfect example of letting the perfect be the enemy of the better.
Obamacare is a disaster that, left untouched, will be saved only by a massive taxpayer bailout of insurance companies. Premiums on Obamacare exchanges have gone up by double digits annually ever since their formation in 2013. Out-of-pocket expenses — including copays and deductibles — rose 40 percent, to $2,649 per person on average, between 2011 and 2014. Hundreds of counties across the country are likely to have no health insurers offering plans on their local exchanges next year.
Far from being a modern-day "profile in courage," McCain's vote against advancing Obamacare reform represents a complete reversal of the position he won his Senate election with last year. John Merline of Investor's Business Daily notes that "In the private sector, promising one thing and delivering the other could be referred to as 'deceptive trade practice.' For some members of Congress, it's just another day at the office."
Like every American, I wish John McCain the best in his battle against a brain tumor. But in what may prove to be one of the most important votes he has cast in his 35 years in Congress, he chose to operate like the standard-issue politicians he likes to rail against.
Commentary by John Fund, a national-affairs correspondent at National Review. Follow him on Twitter @johnfund.
For more insight from CNBC contributors, follow @CNBCopinion on Twitter.
©2017 National Review. Used with permission.