“..Is Obama Turning on Goldman Sachs?..”
“..As President Barack Obama hits the endgame for health care reform, is he making a ploy to associate price-gouging insurance companies with Wall Street greed?
Goldman Sachs recently released a report encouraging investors to buy up shares in two large insurance firms ..
.. and thereby profit from the industry’s soaring premiums.
Now, the White House is making that brief the centerpiece of Obama’s closing argument for overhauling the health system.
It appears that Obama is subtly using the Wall Street titan’s toxic reputation to demonize the insurance industry and rally public support for a comprehensive bill.
In a health care speech in Pennsylvania on Monday, Obama delivered a broadside against profiteering insurance firms.
As an example of the industry’s greed, he highlighted a conference call organized by Goldman Sachs.
“An insurance broker told Wall Street investors that insurance companies know they will lose customers if they keep raising premiums,” Obama said.
But, he added, the lack of competition allows insurers to keep premiums high for their remaining customers.
“And they will keep doing this for as long as they can get away with it.”..”
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