The U.S. Supreme Court agreed on Friday to hear a legal challenge to a key part of the Obamacare health law that, if successful, would limit the availability of federal health insurance subsidies for millions of Americans.And the smart money noticed;
The share prices of major hospital chains such as HCA Holdings Inc, Community Health Systems Inc and Tenet Healthcare Corp fell a few percentage points within minutes of the Supreme Court's announcement.Apparently believing that there are five justices who can read the simple English of the PPACA that nowhere authorizes the IRS to allow subsidies to people buying health insurance outside state exchanges (where the subsidies are expressly allowed).
It's a do over for John Roberts.
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