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Promoted to Headline (H3) on 1/23/10:     Permalink
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Stocks Crash Following Scott Brown Win

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opednews.com

The stock Market's response to the GOP win in MA suggests that the Dems and the Obama administration really were in collusion with the insurance and Pharmaceutical industries, as the stock market plunged in the three days following Brown's win, producing the worst week in almost a year.

The Wall Street journal's to headline article reports that "The stock market suffered its worst week since the depths of the bear market nearly a year ago..."


5 Day Chart shows sharp sell-off after Brown Wins MA


Of course, the Murdoch/Fox News owned former shell of a real news organization did not attribute the selloff to the Brown win. They blamed it on "turmoil in Washington," "concerns about weaker economic growth," and increasing doubts that Federal Reserve Chairman Bernanke will be re-verified. His nomination seemed a shoe in a few weeks ago, but socialist Senator, progressive hero Bernie Sanders put a hold on his confirmation, just as Jim Demint had put one on Obama's TSA head appointee who recently withrdrew his name from the nomination.

The three days following Scott Brown's Senate election win in Massachusetts led to a drop that literally wiped out all the gains the Dow Jones accumulated in the past two months.



Obama administration representatives (like Robert Gibbs) and senate supporters of the Democratic health care legislation suggested, on Wednesday, that the stock market was not reflecting support for their legislation. But others, like Dylan Ratigan at the 4 PM EST slot at MSNBC, have repeatedly pointed out how the rise in health insurer stock values have been a clear indication that the Dems were giving a gift to health insurers-- just like former Cigna Exec Wendell Potter has stated.

This latest stock market move, like any stock market shift, is like a Rorschach test, upon which any interpretation can be projected. Fox's Wall Street Journal spins it as an indication of bad news about Bernanke, but there's very good reason to read this as a horrified realization that the Democratic party/Obama Administration betrayal of the constitutents who gave them power unprecedented in recent years just might be checked-- that Scott Brown might block the gifts and welfare to health insurers and big Pharma that corporate owned and operated senators Baucus, Nelson lined up, with the help of Harry Reid.

It's almost as if the Democrats, with their worst than nothing health care plan were caught with their hands in the cookie jar and now, the stock market is facing the possibility that rotten apples like the abovementioned plus other never to be elected again hangers on like Chris Dodd, Joe Lieberman, Blanche Lincoln, Mary Landrieu and probably Harry Reid will NOT be able to deliver the gift that has seemed so close-- a terrible for main street, great for wall street health business plan that makes health CARE worse.

Fortunately, there are some Democrats (and possibly a few Republicans) who DO want real health care for main street. If a bill was submitted that only covered the strongest pro-main street elements of health reform-- elimination of recision, of pre-existing conditions, of unfair differences in rates for men and women-- there's an excellent chance that that bill would cruise through the house and the senate. Then, there's at least a chance that the senate could pull together 50 senators who are actual democrats who would vote, using reconciliatioin, to expand medicare to cover all.

Is the stock market down because of the potential loss of Bernanke? Maybe. But there's every bit of a likelyhood that it's really down because the Obama/congressional house health care con game is over. Americans need real health reform. The Democrats and Obama promised they'd deliver it. Instead, they handed the legislation over to foxes in the henhouse who, not surprisingly, stabbed us in the back. It ends up that Scott Brown could have been the guy who saved America-- not because it was his intention to produce the outcome that may result from his election. But life works out that way sometimes.

 

Rob Kall is executive editor, publisher and site architect of OpEdNews.com, Host of the Rob Kall Bottom Up Radio Show (WNJC 1360 AM), President of Futurehealth, Inc, more...)
 

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Come on Rob... by Gallaher on Saturday, Jan 23, 2010 at 11:03:12 AM
Just sayin' by Georgianne Nienaber on Saturday, Jan 23, 2010 at 11:21:51 AM
Disingenuous by Jed Merrill on Saturday, Jan 23, 2010 at 11:31:18 AM
Obama and the market by crispy on Sunday, Jan 24, 2010 at 1:44:36 AM
Scott Brown helping Democrats by Steven G. Erickson on Saturday, Jan 23, 2010 at 11:45:30 AM
Wall Street = gambling by shirley reese on Saturday, Jan 23, 2010 at 12:21:48 PM
NO... by Jesse Mathewson on Saturday, Jan 23, 2010 at 1:58:47 PM
Control by comncents on Saturday, Jan 23, 2010 at 3:17:20 PM
ooops by comncents on Saturday, Jan 23, 2010 at 3:24:59 PM
Exellent Article!! by ole haugse on Saturday, Jan 23, 2010 at 12:33:49 PM
Obam Bank Bashing Causes Stock Crash by Ronald Bachman on Saturday, Jan 23, 2010 at 1:14:03 PM
Unfortunately, very inconsistent by BFalcon on Saturday, Jan 23, 2010 at 1:21:02 PM
Inconsistent is right by comncents on Saturday, Jan 23, 2010 at 3:49:13 PM
Everybody loves single payer by BFalcon on Saturday, Jan 23, 2010 at 7:22:17 PM
Let us talk by comncents on Saturday, Jan 23, 2010 at 8:56:37 PM
You don't know me, don't assume bad things by BFalcon on Sunday, Jan 24, 2010 at 9:14:33 AM
German Swiss French models by crispy on Sunday, Jan 24, 2010 at 1:54:44 AM
I will contact you directly by BFalcon on Sunday, Jan 24, 2010 at 9:20:20 AM
Uh... right by Phil Weingart on Saturday, Jan 23, 2010 at 1:51:31 PM
Stock market really??? by Jesse Mathewson on Saturday, Jan 23, 2010 at 1:56:42 PM
Rob by Michael Shaw on Saturday, Jan 23, 2010 at 4:40:52 PM
Medicare for all by BFalcon on Saturday, Jan 23, 2010 at 7:23:34 PM
supplemental medicare by crispy on Sunday, Jan 24, 2010 at 2:08:16 AM
You do admit by BFalcon on Sunday, Jan 24, 2010 at 9:28:03 AM
Reality can be tough to accept by Doc "Old Codger" McCoy on Saturday, Jan 23, 2010 at 7:39:14 PM
So right, I think by BFalcon on Sunday, Jan 24, 2010 at 9:32:10 AM
chinese decision to slow lending spree by crispy on Sunday, Jan 24, 2010 at 2:12:05 AM
A need to turn to the right by Perry Logan on Sunday, Jan 24, 2010 at 5:58:36 AM
Poor people can't rely on "Wall Street" news by Margaret Bassett on Sunday, Jan 24, 2010 at 7:41:00 AM
all connected by trail the dogs on Sunday, Jan 24, 2010 at 2:03:37 PM
Con game over? by Evelyn Pringle on Sunday, Jan 24, 2010 at 3:15:35 PM