It is amazing when Sen. Harry Reid begins talking that real change begins happening. However, when Reid made a comment about a major insurance company being on a verge of going bankrupt, the stock market plummeted signaling fears throughout Wall Street that the insurance industry was going to be impacted.
According to CNNMoney.com, Reid made these comments prior to the Senate's passage of the Bailout Bill. "We don't have a lot of leeway on time. 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 insurance companies quickly went into defense mode by issuing statements of reassurance to their stockholders and consumers.
I guess Reid was having another foot-in-mouth moment without realizing the effect his comments would make. After all, he is supposedly a powerful figure in American politics. Reid should remember that he should think before he speaks.