Insurance company stocks “on fire” – they’re winning, we’re losing (FDL The Seminal)

[chill_wind]

Insurance company stocks “on fire” – they’re winning, we’re losing
By: Jason Rosenbaum Thursday December 17, 2009 2:39 pm

So screams the Business Insider.

If you need a guide to the health reform debate in Washington, take a look at health insurance company stocks. When the debate is going the right way – towards quality, affordable health care for everyone, towards getting people out from under the insurance industry’s crushing monopoly – insurance company stocks take a dive. When the debate is moving against what America wants – towards more private industry, less insurance regulations, and the like – health care stocks soar.

Right now, they’re soaring. The Indianapolis Star goes into more detail:

Shares of the Indianapolis-based health insurance giant surged to a 52-week high Thursday as the prospects for a new government-run "public option" health plan faded amid intense Senate debate. WellPoint rivals Cigna and UnitedHealth Group also hit 52-week highs.

It’s a sign, more than one observer suggested, of victory for private health insurers, which strenuously fought the public option.

"Obviously, the market thinks WellPoint’s a winner," said Daniel Evans, chief executive of Clarian Health, an Indianapolis-based hospital system. "If the public option is no longer on the table, then WellPoint is a winner because it’s not threatened by a government competitor."

Wall Street is what has turned our nation’s health care companies into profiteers.

more: http://seminal.firedoglake.com/diary/19532

Whooohoooo! Victory Laps! Mission (for them) Accomplished!

[bertman]

1. This is why I stopped my 401-K contributions BEFORE the market took its dive. It's

painfully obvious that what is good for the investor class is bad for Americans in general. Giving one's money to a stockbroker to give to the company with the hottest stock is not my idea of a good investment. Especially since rising stock prices now seem to have nothing to do with increased productivity or having a better product. They seem to relate to how badly the CEO's can screw the workers and scam the Boards of Directors for short-term profits.

Rant over.

Rec.

[chill_wind]

3. bertman, we could STILL pee on their parade a wee bit

if we had the represented resolve ... no public option, no mandate.

Best Way To “Fix It Later” Is With No Individual Mandate Now
By: Jon Walker Thursday December 17, 2009 12:49 pm

One of the better-sounding arguments for passing the Senate bill is that “we can fix it later.” While this does sound appealing at first glance, I just don’t see “fixing it later” happening in the next decade or two. Democrats currently have huge majorities in both Houses and the presidency. I can’t imagine there being a time anytime soon where the Democrats have more power.

If progressives can’t push for better health care reform now with a huge grassroots push, I don’t see them having more success after Washington moves on to other topics. As long as this 60-vote myth persists in the Senate, and progressive are not taken seriously, I don’t see how any progressive change (be it on health care or any other issue) will ever happen.

The only way I can see progressives being able to fix the bill later is if they can hold something the big industries really want hostage. Progressives need something important they can trade in exchange for better reform. The only thing progressives can hold hostage for real reform is the individual mandate. The insurers, providers, drug manufacturers, etc., all want the individual mandate. What company wouldn’t want the government to force people to be its customers?

(see all at link)

If Congress passes this bill without the individual mandate, the insurers will moan. They will rail about how they need the individual mandate, but if they want it, progressives will have named their price. Standing firm now on “no public option, no mandate” seems to be the only position that will give progressives leverage to “fix it later.” Playing chicken with the health care lobbies on the issue of the individual mandate may not seem like a sure thing, but it is currently the only strategy I see for having leverage after this Senate bill passes.

http://fdlaction.firedoglake.com/2009/12/17/best-way-to-%E2%80%9Cfix-it-later%E2%80%9D-is-with-no-individual-mandate-now/

[Goldstein1984]

4. Drop the mandatory insurance customer bill

The insurance Industry is parasitic. We shouldn't be mandated to feed it.

My entire retirement fund has been moved out of stocks. My 401k contributions have been reduced to the minimum level necessary to get my employer matching contribution.

I am checking out of the whole citizen = consumption unit scenario.

Want to get the fatcats' attention?--Stop buying stuff you don't need. Buy American when you do need something. Shop local business when you shop. Don't equate spending money with recreation and entertainment.

Even though my insurance covers my prescription medications, I'm not using them and finding non-prescription therapies (not always an option, but it works for me).

We're vegetarian, so we checked out of the beef/pork/poultry consumption market a long time ago.

[chill_wind]

5. Pres Obama on the mandate...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x69122

[Goldstein1984]

6. Consistently inconsistent

I am struggling not to become "anti-Obama."

[chill_wind]

7. It's still not to late for him to stand by that much.

Is it?

[Goldstein1984]

8. That is up to him.

[bertman]

10. I have strongly moved in the same direction, Goldstein 1984. Not a vegetarian, but

mostly locally-grown, pasture-raised, no additive meat.

Being old enough to have accumulated lots and lots (too much, really) of stuff, it's much easier for me to eschew the consumption society. The big problem is all of those who are still striving to "accumulate" what they think they "need".

Oh well, keep up the good work. Maybe you and I and millions of others will be the example others can emulate.

[Vinnie From Indy]

2. You can also be sure that there are folks out there that knew Lieberman

was going to pull this stunt and got in early to ride the wave. Bank on that!

[bertman]

9. What worries me about this whole Lieberman escapade and the reaction of the Dems is

that we are being played big time. Listening to all of the strategizers and speculators it occurs to me that they are going to push the "limited public option so the unions and liberals will accept mandates" or some such shit. So, they finagle some weak public option that is administered by Insurance companies and is available to four or five million people. BUT, hey, at least it's A PUBLIC OPTION.

For me, this is a nightmare scenario that could still unfold in the name of PASSING SOME KIND OF PUBLIC OPTION.

It would be a giveaway.

Excuse me while I try to go back to sleep.

[yurbud]

11. could somebody PLEASE ask Obama about this on camera and why he didn't pursue a public

option that over 60% wanted?