Central Bank made 52 BILLION - Insurance CO. Profits up 56%

Discussion in 'Economy' started by rdean, Feb 12, 2010.

  1. rdean
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    rdean rddean

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    Report: Top five insurers made $12 billion in profits last year, dropped 2.7 million people

    The report finds that the top five largest for-profit insurance companies increased their profits by $12.2 billion last year while dropping coverage for 2.7 million Americans.

    Report: Top five insurers made $12 billion in profits last year, dropped 2.7 million people - Live Pulse - POLITICO.com

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    Can you believe it? The economy is floundering and Insurance Companies make 56% MORE than last year by dropping sick people. And that was only FIVE companies. GO REPUBLICANS! YOU SHOULD BE OH SO HAPPY!

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    Fed Profit: $52 Billion in 2009 - CBS MoneyWatch.com

    Central Bank made a 52 Billion Dollar Profit from Obama's lending. The money is being turned over to the treasury.

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    Good news for now, but could be offset later by selling shaky investments.
     
  2. rdean
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    rdean rddean

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    This is a thread the right will avoid like the plague.

    Obama making money for the US. Republicans freak over that.

    Insurance companies making record profits when people are hurting. For Republicans, that's a "good" thing. Their corporate God is alive and well and screwing us over.
     
  3. CrusaderFrank
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    CrusaderFrank Diamond Member

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    What does "dropping coverage" mean? Does it mean they got coverage elsewhere?

    Also, I never believed the Fed numbers, they did $2 trillion of "off balance sheet" financing so the $52B number seem ridiculously LOW...they need to be audited immediately
     
  4. FireGod
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    FireGod Reputation *****

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    That is what the insurance companies are there for MAKING PROFIT. By free market standards they are rocking. Anyone who thinks otherwise is just silly. Insurance companies do not give a rats ass about the people they cover till the claims start coming in and then well too bad you are now a liability rather than an asset. One thing that is often forgotten is that a company has no morals, it is in the business of making money however it can.
     
  5. FireGod
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    FireGod Reputation *****

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    Dropping coverage means that the company fired those customers who were costing the company money or could no longer afford to pay the latest rate hike. A great move on the companies part.
     
  6. Zona
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    Zona A guy in ariZONA

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    Capitalism...........if it aint broke, dont fix it. Right republicans?
     
  7. Toro
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    Toro Diamond Member

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    I believe that is a record. The Fed made $40+ billion the year prior.

    Most of that does not have to do with Obama or Bush (and it was Bush who passed the TARP, wisely). Rather, the normal course of business generates most of that profit.

    But you are correct. The Fed may lose money on its holdings in the future.
     
  8. blu
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    blu Senior Member

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    if there is a hell, insurance executives will be in the center pit. most of them have sold their souls to satan anyway
     
  9. eagleseven
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    eagleseven Quod Erat Demonstrandum

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    The entity that prints US$ is making more profit than the entire healthcare insurance industry combined...and this doesn't concern you?

    *facepalm*


    A country is f*cked when its most profitable industry is money-printing.
     
  10. The Rabbi
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    The Rabbi Diamond Member

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    Maybe we should put the Fed in charge of health care. They are the only part of the gov't that can generate a profit.
     

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