October 15, 2009 / 7:22 PM / 10 years ago

Obama: Firms nervous that health reform may pass

President Barack Obama speaks during a visit to the University of New Orleans on his first presidential visit to New Orleans October 15, 2009. REUTERS/Kevin Lamarque

NEW ORLEANS (Reuters) - U.S. President Barack Obama said on Thursday that the drop in the health insurance stocks this week was a sign the industry has become nervous that a healthcare reform bill may pass.

“This is when the insurance companies are really going to start gearing up,” Obama told a town-hall event in New Orleans. “Their stock went down when the Senate Finance Committee voted out that bill. Now they’re getting nervous and, by they way, they have been wildly profitable over the last decade.”

Editing by Sandra Maler

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