John Kerry profited directly from Obamacare

Discussion in 'Politics' started by Avery, Nov 13, 2012.

  1. Avery

    Avery Well-Known Member

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    "As a member of the Senate Finance Committee's Subcommittee on Health, Kerry played a key role in shaping President Obama's healthcare reform legislation in 2009 — while also raking in cash from healthcare investments.

    Here's how he did it, according to Schweizer:

    As passage Obamacare seemed more likely, Kerry bought nearly $750,000 in Teva Pharmaceuticals stock, one of several big drug companies that benefitted from the health care bill. When the bill was signed in 2010, the Kerrys sold some of their Teva shares, making tens of thousands of dollars in capital gains. They kept more than $1 million worth of Teva stock.

    In 2009, the Kerrys also picked up shares in ResMed, a medical device manufacturer that was a big winner in the healthcare reform battle. In early versions of the bill, medical device companies would have been subject to higher taxes. Kerry opposed the taxes, and the fees were much lower in the final version. ResMed's stock rose 71% when the bill was passed.

    The Kerrys also invested in hospital supplier Thermo Fisher Scientific, a major beneficiary of the healthcare bill. The stock jumped 40% after Obamacare passed.

    At the same time, the Kerrys dumped all of their investments in the health insurance industry, including shares in United Health and Wellpoint . Needlesstosay, healthcare providers were the biggest losers in Obamacare.

    http://articles.businessinsider.com...assachusetts-democrat-obamacare#ixzz2C3sajixo

    Shocked. Shocked, I tell you.
  2. stripes

    stripes New Member VIP

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    i beleive it was all legal at the time which is the kicker, washington sucks balls.
  3. Avery

    Avery Well-Known Member

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    Definitely legal.

    I just thought democrats were above it all (insider info for making money). So I was sad to see this.
  4. BethsZygote

    BethsZygote In Utero VIP

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    Why would you think this? Obamacare is 1996 Dolecare. It solidifies insurance companies spot in the healthcare system.

    Democrats worried about actual people wanted "single payer". Water prices are price controlled socialism, electrical prices are price controlled socalism. Everyone needs water, (just about) everyone needs electrical power, everyone needs healthcare, from birth to (most) deaths.

    I was charged $8 for a single 200mg Ibuprofen.:c I can get (500) 200mg Ibuprofens off amazon for <$5.
  5. racerx

    racerx New Member

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    seems smart to me. it's not like he had inside info, everyone knew this bill would pass and could have invested.


    that said, i don't think any politician should be allowed to have a financial stake in any company, or even accept lobby funds for that matter.
    too many people on both sides push for bills or amendments solely because they benefit personally. as opposed to what benefits the country or their constituents.

    you want to invest for personal gain, join the private sector.
    you don't think politician salary is enough money, join the private sector.
    Last edited: Nov 14, 2012

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