Subscribe to Common Dreams News Updates
Most Popular This Week
Popular content
Today's Top News
Insurance Stocks Soar on News of Lieberman’s Obstructionism
The Wall Street Journal is reporting that health insurance stocks are up dramatically today after Joe Lieberman's threat to filibuster health care reform. Lieberman has a new-found strong opposition to the Medicare buy-in proposal-a massive flip-flop from his earlier support.
Wells Fargo Securities analyst Matthew Perry said Lieberman's comments are good news for managed-care stocks as anything that delays health-care reform is a positive for the group.
"Every time the reform seems less likely that it will happen, the entire group trades higher," said Perry, who has advised his clients to buy shares of Wellcare Health Plans Inc. (WCG), recently up 1.3% to $36.74, and Humana Inc. (HUM), up 1% to $42.26.
Among the other recent gainers in the sector, Aetna rose 2.7% to $32.65, Cigna Corp. (CI) added 2.3% to $36.41 and Well Point Inc. (WLP) gained 2.7% to $58.07. Meanwhile, UnitedHealth Group Inc. (UNH) added 1.6% to $30.99.
Joe Lieberman is the rain man for big health insurance companies. Every time he tries to bring down real reform with his nonsensical attacks on the public option or the Medicare buy-in, the stocks of health insurance corporations jump.
Senate Democrats need to understand their support for Joe Lieberman
is support for the health insurance industries. Every time they give in
to his ridiculous demands, they are giving in to the demands of the
health insurance lobbyists. Joe Lieberman and his support of the health
insurance companies will be a fifty ton weight that will drown the
Democratic party. It is well past time to cut him loose before the
party is ruined by its endless appeasement of a man who is fighting
against the goals of the party.
Should 'Reconciliation' be the way forward? Read here.
- Posted in

20 Comments so far
Show AllThe man from CT is quite a guy, a real humanitarian.
and he's handsome too!
Not to mention a real caring and people-oriented guy, eh? But I guess if you're a narcissist every thing you do to harm others means nothing and carries no guilt. Aaaah, what a way to go through life: Self-centered, greedy, and hypocritical.
Being from the insurance capital of the world Liberman is just supporting his true constituency, the big insurance companies.
IMHO the last paragraph of this article was written by either one very naive individual or a shill for the Democratic party...
OBAMA, KEEP YOUR TRIFECTA PROMISE! Go nuclear, for single-payer. OR ELSE, SINGLE TERMination!
This is great news! Only in America! Thanks Joe for not only boosting the stock of the health insurance industry but also for the boon to the funeral industry.
Joe, oh Joe
you disappoint me so...
Your ethics, they do belie
the glitter or sparkle in your eye...
Friend to mammon it is so apparent
the time to cut you out is past spent...
damn the limericks and the establishment
you better go straight to hell if you dont repent...
One of the invisible hands at work.
This gangster is holding the entire population for ransom.
The WH sez "Cut a deal" but I think "Cut a throat" would be more productive.
Is insurance stock manipulation illegal for everyone except senate Jews?
Wasn't Lieberman once Al Gore's running mate? BOY, AM I GLAD I VOTED FOR NADER!
That choice was a sad, sorry day for Al Gore. Democrats thought it was political expediency. They did not at the time recognize evil because it was so much looked at over in the other camp. They looked away, and now it has spread. Everywhere.
"It is well past time to cut him loose before the party is ruined by its endless appeasement of a man who is fighting against the goals of the party."
Who is this Jon Walker from FireDogLake? A typical blinded sheep. Hey Jon, got news for ya buddy: the "goals of the Democrat Party" are exactly the same as those of the Rethuglicans: represent and benefit the Corporatocracy, not the people of the US.
Does this guy REALLY think the Democrats stand for we the people?? LOL
Ahhh....it's people like the author of this story that continue the charade that is the 2-winged Party of the Corporate State. It's people like him that are the reason we continue to have only 2 choices at elections, and why 3rd parties will never be a serious threat to the establishment.
"When fascism comes to America, it will be wrapped in the flag, carrying a cross."
Sinclair Lewis, "It Cant Happen Here", 1935
Don't know about insurance stocks, but has anyone paid out of pocket for prescriptions lately? The prices have soared since this whole health insurance issue has been going around in Congress.
Yeah about soaring pharmacy prices. My 6 Viagra pills cost me $98--at Costco. And I need them for medical reasons, not partying.
"Appeasement" of Lieberman is the right word. Mr. Obama's spirit of compromise and appeasement has gone much too far and the fruit of it is nothing.
I don't care if they do pass it now. It's a 3,000 page bill of shreds and patches instead of what it should be: Medicare for all (aka single payer).
Well for those who know that single payer is literally the only good solution, this year's marathon dog and pony show is sort of entertaining. On the other hand, at the same time, it's like living within a horror movie that won't come to an end and where you don't know whether you are going to survive. So it's a strange experience with good and bad aspects.
Seriously though, it is definitely not a coincidence that the one country that has shut out real progressives from participating in the political process and the one country in which middle and lower income workers have no real representation is also the one country that has a very bad health system and is now also the one country that not only can not pass a good health bill, but can hardly pass any new health laws at all, even bad ones.
I mean, it goes from bad to worse to pathetic to where we need a new word to describe how bad things are in "The States".
Is it too strong of an emotion for me to hold active, seething, hatred for those among us who would sit idly by and watch others suffer for no other reason than the sake of their own fleeting, material, profit?
I hope not cause Joe you sure earned mine, but don't worry, you are far from alone.
Could those of us who KNOW single payer is just the way the U.S. needs to go now just agree on a 'strike date'?
Choose a date: Jan 15, Feb 15, Mar 15, etc. Don't go to work: shut the economy DOWN. Next month, same date, DO IT AGAIN, if 'single payer' isn't passed.
It's time for the rest of us to 'put up or shut up' on healthcare. We've allowed the politicians and healthcare corporations to have their fun. They've soired, power-lunched, summited, retreated, meditated, conclaved, and lobbied enough.
If we want single payer, we're going to have to strike for it.
I agree with you ubrew. No amount of screaming monkeys are going to change the minds of the great apes. Time for the monkeys to withhold their bannanas.
Nothing less than 40% of the population agreeing to such a strike will work. Polls say 50% of the population WANT single payer. Do we have the numbers?
I've said repeatedly: single payer is just a lifetime contract between an insurer and an insured. You buy in FOR LIFE and they insure you FOR LIFE. Half of America prefers our current system. You buy in, or not, and they insure you, or not. Being 'pro-choice' I think that half should have the right to be just as stupid as they want to be. And half of us can basically go with Canada's system. That leaves the uninsured. I believe that the uninsured should be able to buy into whatever system they want, the balance to be picked up by the government (ie the rest of us). Note that when you join a single payer system you DON'T get to leave, for your life. That's just what it is. The resultant lower risk on their side (coupled with their nonprofit status) means your premiums are lower. Likewise, anyone who opts for our current privatized mess can never, in their lifetime, Join single payer, or that just dilutes our premiums. And children get a one-time chance to join up, at 25, to either the 'socialized' single-payer plan or the 'corporatized' private plans 'enjoyed' by most Americans today. I know this sounds bizarre, but its true that HALF of america actually rather LIKES our privatized mess that currently doubles their cost of healthcare and dumps them the moment they get sick. They are welcome to whatever fleecing they enjoy. Those of us who are smart, however, are going to have to STRIKE for the right to be smart.
Yes, if the right wingers want to keep getting fleeced even after single payer begins, let em if they are going to be so obstinate and silly about it. In fact, give them a tax credit in the amount of the estimate of the per capita total cost of the single payer system and say "you are on your own, you will NOT be allowed to get health care under any program operated by taxes and the Government." There will still be private health insurance companies eager to take their money.
Why isn't Obama doing anything about this? This is going to have a bad effect on the US population.