In short: Obama - bad, Drug company profits - good.
Consequently Wall St took a dip today as everybody was feverishly working to dump their pharmaceutical portfolios or at least some of it.
The DOW lost 88, the S&P lost 12 but if you were invested in energy, you got a little boost. The price of oil took a tiny jump up.
Reuters: Health sector losses take Wall Street lower
The Obama plan to expand healthcare coverage and curb costs calls for cutting Medicare payments to private insurers, allowing consumers to buy cheaper medicines and preventing drug companies from making deals that block generic competition.
3 comments:
Only single -payer will fix the mess health care is in, but I doubt O will go after the Industry. He has to know rising health care costs are the single biggest impediment to a recovery. How can business expand with this millstone around it's neck?
Its true. Businesses are strapped with health care costs, and many are looking to cut it out.
Basically the house is a wreck, bring in the wrecking ball and start from scratch.
Won't happen too many of the BIG $$ health care boyz own the Dems.
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