- Editorial Commentary -

October 18, 2009 (FinancialWire) (By Bob Farley) — Is it a coincidence that health care ETFs (exchange traded funds) rallied on Friday? The Health Care Select Sector SPDRS ETF (NYSE: XLV) closed at their highest level in over a month, while the Vanguard Health Care ETF (NYSE: VHT) gained more than 1%. Maybe they know something that the rest of us should know?

For sure, we know that Congress has health-care reform on its platter this week, but with former lobbyists from companies like WellPoint (NYSE: WLP), one of the biggest health insurers in the country, on the panel helping write policy, it’s no wonder that the bill coming out provides that those without insurance will be forced to buy insurance from for-profit organizations.

How will that help out those who already can’t afford what insurance companies are offering? Can’t see how it will help anyone but insurance companies keep hold of their profits.

The Baucus bill won’t so much affect health care-nobody’s even really talking about that-as much as it will health insurance. It does that by ensuring the insurance companies they operate in an environment essentially the same as the one they have now.

With so much incest in the political system, it’s nearly impossible without making it a full-time job to keep track of elected officials who make law, then move to the private sector and work for companies that might benefit from the laws they helped pass, and then leave those offices to work as lobbyists influencing the congresspeople who make the laws. And do-si-do.

So, in answer to the original question, no, it’s probably not a coincidence. Just business as usual in the “caring” of the poor and middle class in America.

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