Obama: Firms nervous that health reform may pass

Reuters ^ | 10/15/09 | staff

[Nachum]

NEW ORLEANS (Reuters) - U.S. President Barack Obama said on Thursday that the drop in the health insurance stocks this week was a sign the industry has become nervous that a healthcare reform bill may pass.

[al_c]

Can you imagine the damage if the entire insurance industry lays off all of its health underwriting personelle, claims personelle, technicians, support staff, and agency force in all 50 states?

And sales, marketing, corporate communication, IT, print/multimedia designers, HR, building maintenance, etc. That's going to be a huge line at the unemployment offices.

[MHGinTN]

The evil of this wicked man is becoming the stuff of 'legion'. ...

When insurance firms make a profit, they invest in things which can be converted to claims cash, as needed.

That is the essence of capitalism's greatest empowerment, but the fascist now running the democrat party would have you believe profit is evil and only spreading the wealth around--or in this case spreading the risk around to be covered by tax monies--can bring prosperity to America ... as if until the advent of the magic negro there was not prosperity in America.

It never occurs to the useful idiots like in Detroit that only the prosperity from past capitalist years makes it possible for the fascist-in-chief to hand out monies to welfare slugs, enslaving black people made dependents on these handouts by democrat party rulers since Lyndon Johnson's 'great redistribution society' arose.

[al_c]

"This is when the insurance companies are really going to start gearing up," Obama told a town-hall event in New Orleans. "Their stock went down when the Senate Finance Committee voted out that bill. Now they're getting nervous and, by they way, they have been wildly profitable over the last decade."

3.3% profit margin is "wildly profitable?"

Profit Margin: Health Insurance Industry Ranks #86

[keepitreal]

U.S. President Barack Obama said on Thursday that the drop in the health insurance stocks this week was a sign the industry has become nervous that a healthcare reform bill may pass.

No - shareholders are nervous. Holders of stocks, like pension funds, grannies, and regular Americans.

[keepitreal]

I'm reading New Deal or Raw Deal? by Burton Folsom. Some of Roosevelt's behind the scenes talk sounds very similar to Obama's. Roosevelt seemed to hate business and those who ran it.