Wednesday, October 8

Tales from the idiot brigade

To be honest, most of my posts could probably qualify as tales from the idiot brigade, but this was so stupid that i just came up with that title. Senator Harry reid came out a week or so ago and talked about how necessary this bail out bill was. How he had just gotten out of a congressional meeting where they were talking about one of the big insurance companies, one of the companies we all know about, was about to go bankrupt. He said that publicly. Now would do suppose the result of saying that publicly would be? It would be exactly what any adult would predict, the next day the stocks of all insurance companies went plummeting, losing upwards of 20%. Then Harry Reid's staff came out and said their was no specific company, he was just talking generally, translation: he made it up. So he makes up this line, pulling it out of his ass trying to sell the american public about the need for this bail out, and in doing so greatly weakend the insurance company. Saying something like that becomes a self-fullfilling prophesy. people will stop doing business with insurance companies, they won't be able to get money, and then they will go bankrupt. Well that didn't happen, but the drop in stock value cost stock holders billions of dollars. Who is going to be responsible for those billions of dollars. Nobody of course. The government will condemn the companies, and the executives who drove those companies into the ground.

Appearing in broad daylight with police everywhere, ladies and gentlemen, there's only 1 word for that: idiocy.


Blogger Aras said...

Are you saying he caused the market crash?

7:26 AM  
Blogger Trashcan said...

No, but he certainly didn't help out the insurance companies. Nor is this the first time that some politician has done something like this. They don't take into account the effect their words have, because it doesn't effect them. Some do point to a senators errant words as having caused a large bank to fail earlier this year. The problem is, it is a self fulfilling prophesy. When people think a company is weak, it is weak.

1:24 AM  

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