Is the Doc in da house tonite?
Hey how bout the market!
That B.O. sure is the real Messiah. barf...
\Stocks fall as fears of budget proposal impact hit health care stocks
By Tim Paradis, AP Business Writer
NEW YORK — Health care stocks, one of the better performers on Wall Street lately, led the market lower Thursday after the White House proposed cutting payments to private insurance plans.
The Obama administration’s $3.55 trillion budget plan for 2010 includes cuts to Medicare, and private health insurance plans serving Medicare seniors would take the biggest hit. As investors became aware of the impact the budget, if enacted, could have on the companies, they turned against what had been one of the strongest industries in the stock market recently.
Banking shares initially pulled much of the market higher as investors welcomed plans from Washington for additional bailout measures that could provide up to $750 billion in support to the struggling banking system. But the Obama administration said the money was for a contingency fund and that it didn’t plan to immediately ask Congress to add to the government’s existing $700 billion rescue program.