Topic: Insurance Stocks

Investment banker Monica Mehta appeared on Bill Maher's program to discuss massive government waste and the lack of audits for the Pentagon. She highlighted that health insurance stocks have risen 400% since the passage of Obamacare, while the S&P 500 rose only 200%. Mehta also pointed out that insurance companies have been exempt from certain antitrust regulations since 1945, allowing for price collusion.

CNN and other news networks initially misreported the Supreme Court's decision on the Affordable Care Act, claiming it was struck down before correcting the report. Chief Justice John Roberts switched sides to uphold the individual mandate by redefining it as a tax rather than a forced mandate. While President Obama maintains the legislation is not a tax increase, the IRS is tasked with enforcement, and insurance company stocks fluctuated significantly following the ruling.

The loss of the Democratic supermajority in the Senate is discussed in the context of healthcare reform. The hosts suggest the entire legislative process may have been a "pump and dump" scheme for health insurance stocks, which reached 52-week highs before the Massachusetts election. They also speculate that a potential Republican filibuster would be turned into a media reality show.