Insurance stocks spike after Lieberman's announcement

[villager]

Insurance Stocks Plunged As Reid Announced Public Option, Spiked After Lieberman Vowed To Filibuster It

Yesterday, Senate Majority Leader Harry Reid (D-NV) announced that he would be including a version of the public option (with a state opt-out provision) in the Senate’s final health care bill. Although all of the details of the public plan are yet to be determined, progressives cheered the move. As Sen. Dick Durbin (D-IL) admitted, without all the pressure that progressives in and out of Congress put on legislators, it is unlikely there would have been a public option included in Reid’s final bill.

Yet this afternoon, Sen. Joe Lieberman (I-CT) broke with the Democratic caucus that he is a member of and vowed to join a Republican-led filibuster if the public option is not removed from the bill. In response, insurance company stocks — which plummeted Monday as Reid made his announcement — shot up after Lieberman made his announcement around 1:30 pm

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http://thinkprogress.org/2009/10/27/insurance-stocks-lieberman/

[laughingliberal]

1. If we needed anymore evidence that this provision would reign these cartels in

there it is.

[Ruby the Liberal]

2. Best advertisement for the Public Option yet.

Follow the money.

(I wonder how much Jomentum has invested in the industry. The ultimate insider trading, IMO).

[FrenchieCat]

3. But, but, but.....

I was told that the PO isn't worth shit anyways,
so why would Insurers not like it to this extent,
that their stocks rise and fall based on its chances?

Color me confused.:crazy:

[OnceUponTimeOnTheNet]

4. k&r.