Health and Human Services Secretary Kathleen Sebelius has been spending unknown and unauthorized amounts of taxpayer dollars to create a federal health insurance “exchange.”

Now we learn that as the result of a recent purchase, one health insurance carrier’s parent company—UnitedHealth Group—basically just bought the federal exchange that is supposed to regulate it. There’s a former exchange-planning official in the mix, yet nobody told the Securities and Exchange Commission—and now there are allegations that HHS counseled the buyers not to make that legally mandated disclosure.

Maybe a second Obama term won’t be so dull after all.