Harry Reid, Fabulist
ZOMFG INSURANCE COMPANY GOING BANKRUPT AHHHHHHHHHHHHHH!!!!!!!11111
“We don’t have a lot of leeway on time,” Reid told reporters in the Capitol. “One of the individuals in the caucus today talked about a major insurance company — a major insurance company — one with a name that everyone knows that’s on the verge of going bankrupt. That’s what this is all about.”
He did not identify the insurance company, and later in the day Reid spokesman Jim Manley said the senator was speaking broadly and not referring to anything specific.
“Senator Reid is not personally aware of any particular company being on the verge of bankruptcy,” Manley wrote in an e-mail to ABCNews.com. “Rather, his comments were meant to refer to the conditions in the financial sector generally. He regrets any confusion his comments may have caused.”
Ah, yes. Of course. An insurance company, “one with a name that everyone knows that’s on the verge of going bankrupt” in Reid-speak means “the conditions in the financial sector generally.”
These people make my job way too easy.
UPDATE: “Harry Reid, Fabulist” “Harry Reid Should Be Contained”
The results of Harry Reid’s fat mouth:
MET down 10.7% or ~$3.6Bn
PRU down 3.8% or ~ $1.4Bn
AFL down 4.14% or ~$630mm
TRV down 3.75% or ~$950mm
Not to mention:
The story is similar when it comes to preferred stock. For those of you who prefer the big picture, the S&P 500 Insurance Index is down 4.5%, or $15 billion.
Congratulations, Harry, for causing the insurance industry to lose fifteen billion dollars today.
Will he get impeached removed from Majority Leader post investigated blamed questioned for it?
Considering he just lost billions of dollars for an industry that has given him $223,410 over the years, we can only hope.
Time to whip out the obligatory:
Update story courtesy Hot Air Headlines