Thursday, June 21, 2012

Supreme Impatience as Possible Verdict on Obamacare Draws Near

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I hate waiting for anything - patience is not my virtue! And in this information age with lightning-fast computers and instant tweets, it seems ridiculous to make people wait for weeks to hear the Supreme Court verdict. But this is "how it's done" so we wait. There's almost a sense of impending doom hanging in the air, no matter what the verdict is. I can't even imagine what's going to happen at that moment - heads explode, certainly. People cussing on Twitter and Facebook. Speeches, marches, anger - either side could be ticked off royally. Predictions are running rampant that the mandate will be struck down. What the Supremes will do with the rest of the Health Care Bill is anyone's guess.

UPDATE: It was "Or Nothing" - no ruling on Health Care today! See you next Monday!

NPR: Ruling Could Come Today
Word about which of its remaining decisions the court releases today should come just after 10 a.m. ET. The court's website is here.
We'll be watching for news from the court. So will SCOTUSBlog, which is always quick with updates.
From the LA Times
WASHINGTON -- Television cameras will surround the Supreme Court on Thursday morning, as they did Monday, anticipating something that may, again, not happen.
The momentous healthcare decision could be announced Thursday. Or not. All we really know is that it is extremely likely to be handed down by the following Thursday, June 28, when the court is expected to end its current term.

. . . The decisions are printed inside the ornate 1935 Corinthian-style building, and handed out to reporters as the justice who authored the opinion announces the decision from the bench shortly after 10 a.m. By tradition the senior justice goes last, so healthcare is likely to be the last decision announced on the day it comes down.

Only a few times in modern history have the results leaked ahead of time, once reputedly from a comment by a justice to a reporter, another time from a talkative printer.
The court is not meeting Friday, so if the healthcare decision does not come Thursday, the next opportunity would be Monday.

Daily Beast: How the Supreme Court Ruling Will Move Markets
Most academics are bullish on the constitutionality of the individual mandate, the law’s cornerstone. There’s around a “10-to-1” chance of the provision’s survival, said Thomas Maguire, a professor of health economics at Harvard. But the market isn’t as optimistic.
“The market is pricing a 60% to 70% likelihood of the mandate being struck down,” said Michael Gregory, manager of two healthcare funds for an investment firm affiliated with Highland Capital Management LP.
According to six industry analysts and fund managers interviewed by The Daily Beast, Wall Street money believes that the individual mandate, if not the entire law, will be dumped.


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