Healthcare industry stocks explode as bill progresses
Dec.23, 2009 in
barack obama
Healthcare industry stocks explode as bill progresses
The Senate passed its health care bill "by standing up to the special interests who prevented reform for decades and who are furiously lobbying against it now" -- Barack Obama, December 21, 2009.
"Investors are seeing the Senate's version of health care reform as a massive public subsidy for insurance companies -- and as a result, are sending the sector's stock prices shooting up, up, up. . . . Stripped of a government-run insurance plan, the bill would give tens of millions of Americans no option but to start paying hefty premiums to private companies.
The rise in stock prices has been particularly striking in the period since Sen. Joe Lieberman (I-Conn.) said on October 27 that he would filibuster a Senate health care reform bill if it included a public option . . . Here's a quick breakdown of major health insurance company stock performance from Oct. 27 to Friday's market close:
* Coventry Health Care, Inc. is up 31.6 percent;
* CIGNA Corp. is up 29.1 percent;
* Aetna Inc. is up 27.1 percent;
* WellPoint, Inc. is up 26.6 percent;
* UnitedHealth Group Inc. is up 20.5 percent;
* And Humana Inc. is up 13.6 percent" -- Shahien Nasiripour, The Huffington Post's business reporter, yesterday.
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Just to put this boon to health insurance stocks in perspective: according an Indianapolis Star article from June, Evan Bayh's wife, Susan, "owns from $500,001 to $1 million in employee stock in WellPoint, the Indianapolis-based insurance giant on whose board she sits." That would mean that the value of her personal holdings in that one health insurance company alone, in the last six weeks alone (since Lieberman and her husband began menacing the public option), would have increased by a value of between $125,000 and $250,000.
Rest of Article Here
I of course don't agree with the liberal bent of the article that government controlled health care is the solution. But it's interesting to see Obama and the other liberals' hypocrisy on the issue. I just wonder how many other liberals are profiting from this bill...
The Senate passed its health care bill "by standing up to the special interests who prevented reform for decades and who are furiously lobbying against it now" -- Barack Obama, December 21, 2009.
"Investors are seeing the Senate's version of health care reform as a massive public subsidy for insurance companies -- and as a result, are sending the sector's stock prices shooting up, up, up. . . . Stripped of a government-run insurance plan, the bill would give tens of millions of Americans no option but to start paying hefty premiums to private companies.
The rise in stock prices has been particularly striking in the period since Sen. Joe Lieberman (I-Conn.) said on October 27 that he would filibuster a Senate health care reform bill if it included a public option . . . Here's a quick breakdown of major health insurance company stock performance from Oct. 27 to Friday's market close:
* Coventry Health Care, Inc. is up 31.6 percent;
* CIGNA Corp. is up 29.1 percent;
* Aetna Inc. is up 27.1 percent;
* WellPoint, Inc. is up 26.6 percent;
* UnitedHealth Group Inc. is up 20.5 percent;
* And Humana Inc. is up 13.6 percent" -- Shahien Nasiripour, The Huffington Post's business reporter, yesterday.
_____________________
Just to put this boon to health insurance stocks in perspective: according an Indianapolis Star article from June, Evan Bayh's wife, Susan, "owns from $500,001 to $1 million in employee stock in WellPoint, the Indianapolis-based insurance giant on whose board she sits." That would mean that the value of her personal holdings in that one health insurance company alone, in the last six weeks alone (since Lieberman and her husband began menacing the public option), would have increased by a value of between $125,000 and $250,000.
Rest of Article Here
I of course don't agree with the liberal bent of the article that government controlled health care is the solution. But it's interesting to see Obama and the other liberals' hypocrisy on the issue. I just wonder how many other liberals are profiting from this bill...
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