Friday, October 3, 2008

Senate Majority Leader Reid Causes Run on Insurance Stocks

The irrepressible Harry Reid first claimed that "a major insurance company -- one with a name that everyone knows -- that's on the verge of going bankrupt," according to Dow Jones Newswires.

After causing a major drop in insurance company stocks, "Today, the Nevada Democrat backtracked. A statement from his office said that Reid was 'not personally aware of any particular company being on the verge of bankruptcy' and that 'he has no special knowledge about nor has he talked to any insurance company officials,' Dow Jones reported."

Another day, another legislator causing major economic damage.

Read the whole article at

http://latimesblogs.latimes.com/money_co/2008/10/new-york-sen-ch.html

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