What’s The Matter With Harry? by Jennifer Rubin

The Bear on Oct 09 2008 at 8:20 am | Filed under: Economy One of the more curious — but not unprecedented — incidents in the last couple of weeks involved Harry Reid. The Wall Street Journal explains: Just as U.S. credit markets this week were close to the edge of the cliff, threatening capital-starved businesses large and small, Senate Majority Leader Harry Reid stepped in front of reporters and offhandedly announced: “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.” The next day, share prices fell sharply across the insurance industry. Let us stipulate we do not think it necessary for even U.S. Senators to understand the internal mechanics of credit default... [read full story]