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BurtWorm Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-16-09 03:17 PM
Original message
Baucus Bill Sends Insurance Stocks Rallying
Edited on Wed Sep-16-09 03:18 PM by BurtWorm
From think Progress:

http://thinkprogress.org/2009/09/16/stocks-baucus /

Earlier this morning Senate Finance Committee Chair Max Baucus (D-MT) unveiled his committees health care bill, which has no public option and mandates that everyone buy insurance. While Baucus has failed to garner support from any congressional Republicans and has outraged progressives, there has been one very positive response to his proposal.

Following Baucus announcement, HealthNet shares increased by 3%, United Health Group Inc shares rose by 2.7%, Humana Inc. grew by 2.6%, Wellpoint stock gained 1.7% and Aetna Inc rose 1.6%:



Earlier this week, ThinkProgress interviewed Wendell Potter a former health insurance executive who pointed out that every time there is an article in a big newspaper questioning the success of progressives in getting a good bill passed, the stock will go up. The analysts/investors dont think any good reform is going to happen, or anything that would happen that would adversely affect the insurance companies, he said. Watch it:

http://www.youtube.com/watch?v=SBPm6qOviFQ

In fact, since the President signaled that he is backing away from the public option, health insurance stocks have been on the rise. Health-care investors are starting to breathe a sigh of relief as they feel the worst case could be averted, John Sullivan, director of research at Leerink Swann, told the Wall Street Journal in August. Health-care stocks have risen 22% since late February, when President Barack Obama began his push for an overhaul; the overall market is up 38% between late February and August.
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RoccoR5955 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-16-09 03:19 PM
Response to Original message
1. Sure, Baucus is obeying his corporate masters
and giving them the chance at a whole lot more corporate welfare.
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tsuki Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-16-09 03:23 PM
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2. Maybe Baucus can wring another million out of them. nt
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mdmc Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-16-09 03:24 PM
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3. One corporate party makes babies cry
Edited on Wed Sep-16-09 03:24 PM by mdmc
:(
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DrDan Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-16-09 03:35 PM
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4. it is certainly not because this bill is a boon for average citizens
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