Bundler Bets Against Exchange

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December 6, 2013

Bundler Bets Against Exchange

Ouch.

The UNaffordable Care Act is destined to be such a flop that one of Obama’s biggest campaign bundlers is betting against the federal exchange. The Washington Free Beacon has more: “A major campaign bundler for President Barack Obama is betting on the failure of one of the top federal contractors responsible for the disastrous rollout of the website for the federal government’s insurance marketplace. James Chanos made his fortune by short-selling companies before the value of their stock plummeted, most notably the defunct energy firm Enron. His latest target is CGI Group, which is the parent company of CGI Federal. CGI Federal is the lead contractor responsible for Healthcare.gov, the glitch-plagued website of the federal Obamacare insurance exchange.” Chanos raised up to $500,000 for Obama’s reelection bid. He’ll likely make that number look minuscule with the profit he’ll make betting on O'Care’s demise.

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