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Tuesday, December 22, 2009

Health insurance stocks rally on promise of 'reform'

[Originally posted at Beltway Confidential]

If you've bought into the talk of Barack Obama, Keith Olbermann, the DNC, or Matt Yglesias, you may have lost money in the stock market this week. If you've been listening to me or Glenn Greenwald, you might have made some money.

Check out this AP article:

NEW YORK (AP) — Shares of health insurance providers leaped Monday after a key Senate vote on the country's health care overhaul put legislation on track for passage before Christmas.

Yes, it seems out that requiring us to buy more private health insurance, using taxpayer money to subsidize more private health insurance, preserving the government favors for anti-competitive employer-based health-care, and preserving most limits on interstate purchase of health insurance actually helps insurance companies, contrary to the claims of the President and his boosters.

Liberal writer Glenn Greenwald brought this stock rally to my attention.

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