by Ben Cohen
Nate Campbell makes the obvious, yet chronically under reported argument that the insurance industry is fighting hard against health care reform because it is losing a lot of money:
Weighted for market capitalization, these insurance stocks have lost 11
percent of their value since Labor Day, wiping out about $10 billion in
value. And that’s understating the case since the major indices have
gained 5-8 percent over the same period — the insurance industry
stocks are underperforming the market by just shy of 20 percent.
The insurance industry would like to frame the argument around philosophy (‘do you want government interfering in your medical care?’) rather than around fact. Because as the saying goes, the numbers don’t lie, and the insurance industry stands to lose billions of dollars in business once people figure out they are being ripped off.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.