Cramer’s Remorse, III: “What Did You Expect?”
Not so much a real remorse entry as just a passing note. Stocks of HMOs including Cigna, Aetna, WellPoint, and UnitedHealth are getting clobbered today. Cramer’s reaction to this is along the lines of “what did you expect?”, given that the push for Obamacare is going to put that particular industry on the endangered species list in short order.
“What did you expect?”, of course, is a question that might well be directed at Cramer and others, every time they wonder out loud just what it is that the man they voted for is doing. I guess Cramer may just be ahead of the curve a little, and that he’s merely spreading the word to other soon-to-be-remorseful Obama supporters still blissfully dozing in the land of “He Doesn’t Mean Me”.
And although Cramer didn’t mention it, I think I would be remiss in reminding everyone that the legislation that created this much-reviled industry, the HMO Act of 1973, was authored by none other than the granddaddy of Obama’s own party, Ted Kennedy.