Posted on 10/01/2008 5:58:44 PM PDT by Canedawg
Okay now. what to make of reid's "slip of the tongue"?
So let's assume that he's lying. I say that first because we know they all lie, especially the Pelosi-reid-schumer-three headed monster. Why would he lie about this?
The fear factor. Just float a little thing out there to let people know how serious this sheet is, give 'em another cracker to munch on while the senate votes. Let people think it's really quite possibly veddy, veddy bad. after all, 80% of the functioning citizens think this bill is a bad idea. Need to give them half a reason to think a rescue is needed. After all, we now have some tasty pork in there.
If it was just one insurance company, "thats what this is all about" he said- that requires a bailout? well, it ISNT WHAT it is all about, because it doesnt take 700 billion dollars to bail out an insurance company. Assball.
On the other hand, if this is a company other than AIG- Allstate for instance, which the last i heard owns other companies like Budget rent a car and there's a Sears connection too (remember Sears? One of the oldest, joe six-pack retail stores in the country?) and this big name company is on the verge of bankruptcy, and about to take all its subsidiaries down with it, well, that is bad.
(I don't think Sears has been connected to Allstate in quite some time, but let's not let the truth get in the way here. I'm trying to make harry's case for him, and since when did he ever let a little thing like the truth interfere with his agenda?)
So, AIG is huge, and a key thing to remember about them is they re-insure other companies. So if and when an AIG goes down, the risks of other insurance companies is exponentially exposed. This is an industry that is about risk management, and there may be about as much money tied up in insurance companies as there is in banks. Lots of paper assets with numbers with a lot of zeroes behind a crooked number in these companies. And if that is now at risk, there are dominoes off in the distance.
So if Allstate is ready to follow AIG, that is big, and bad. And if major companies start dropping like flies, and people are exposed to liability for accidents, or people (and trial lawyers- let's not forget the trial lawyers, who have had a BIG say in the assets of insurance companies- they rape them like a Raines in a boudoir of Fannymaes) people might just start thinking about running over to the bank and taking their money out. Got an extra mattress? Is that what you wanted us to believe, Harry?
oh wait- Congress will now vote FOR the bill after they voted against it. Never mind.
What “slip of the tongue?”
Take a deep breath, try again, in English and with punctuation this time.
He’s full of theatre.
He’s looking for attention.
He’s as whacky as Pelosi.
Someone mentioned something in the cafe, he exaggerated it and said it for a headline.
His staff had to come out and cover for him.
Nice article...very well written, and makes some very excellent points.
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