Worth more than 10,000 words was the swift reaction of the stock market yesterday, apparently to news that the public plan for health care reform was dead.
Stocks for health-related industries shot up, while the rest of the market went down.
Anybody have trouble interpreting what that means? Seems pretty obvious to me that the health industry (as opposed to health care) saw this as good for them (= profits). And they're probably right. Without a competitive public option, the bill will be a big bail-out for these corporations.
There's no question in my mind: this is a win for insurance, drug makers, and for-profit hospital corporations, because there will be an increased demand for their services.
Unfortunately, it's a big loss for the people and for health care reform. Without it, the costs will just keep going up, and then opponents will claim the reforms didn't work and just created a new gigantic entitlement.
But not everyone has given up. Sixty-five progressive Democrats have said in no uncertain terms that they will not vote for a bill without a public option, all the way through Conference.
Firedoglake blog is raising campaign contributions to reward them for their courageous support. I just made a contribution. You can choose which ones you want it to go to.
Go to http://www.actblue.com/page/theytookthepledge
Ralph
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Right -- a big bail out for corporations that don't even need it. There's no evidence that the health care industry is hurting at all. Huge profits without any help.
ReplyDeleteYeah !!! The likely next president of the AFL-CIO has said that labor will probably withhold their support in the next election for Democrats who don't vote for the public option.
ReplyDeleteI think maybe we're entering the phase where progressives need to take the initiative and "make them do it" i.e, give them the incentive to do what they want to do.
ReplyDeleteThey have to feel the pressure from our side -- to counter the pressure (including lobbyists and money) from those who don't want true reform.
I called the White House comment line, Speaker Pelosi's office, Majority leader Reid's office, and others but I'm at still at wits end about us not getting the public option. Joy
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