Medical, insurance investments continue to prosper
NEW YORK – Since the passage of Obamacare, House Speaker John Boehner has been dogged by critics pointing out his investment portfolio has benefited from owning insurance and medical company stocks that have profited from the legislation.
An analysis of Boehner’s current investment holdings includes a number of stocks benefiting from Obamacare in a total portfolio estimated at between $3.5 and $5 million in current market value.
Boehner’s Obamacare-related investments trace back to 2009, when the Obama administration was pushing the Affordable Health Care Act through Congress.
Peter Schweizer, in his 2011 book on Washington corruption, “Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism that Would Send the Rest of Us to Prison,” noted on Page 20: “Congressman John Boehner, who was leading the opposition to Obamacare in the House of Representatives, may have been fighting John Kerry on policy matters, but he was entirely allied with him when it came to investment decisions.”
On December 10, 2008, Boehner bought numerous health insurance company stocks, including tens of thousands of dollars in Cardinal Health, Cigna, and Wellpoint. On the same day, Boehner purchased shares in the Big Pharm companies Amgen, Johnson & Johnson, Forest Labs, Covidien, and Pfizer. He also bought shares in CareFusion, which provides systems for countering infections. Just days later, on December 15, the Washington Post declared that the ‘public option’ was officially dead.
Schweitzer drew a causal link, noting that Boehner’s heavy investment in Obamacare stocks meant his political opposition to the legislation was undermined by his personal interest.
Written by JEROME R. CORSI
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