These idiots run our country!

[bj229r]

http://money.cnn.com/2008/10/02/news/companies/insurance_stocks/index.htm

Is Harry this STUPID, or is he making money off this? The leader of the US senate CAN'T say crap like this.

NEW YORK (CNNMoney.com) -- Several big life insurance stocks fell sharply Thursday, dragged down by jitters about their role in the credit crisis and fears sparked by a comment from Senate Majority Leader Harry Reid, D-Nev., Wednesday about a potential bankruptcy in the industry.

"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," Reid said prior to the Senate's approval of the $700 billion bailout bill.

New York-based MetLife (MET, Fortune 500) was one of the hardest-hit insurers Thursday. Its stock plunged nearly 16%. Thursday's drop comes after a 14% decline on Wednesday.

In light of this, MetLife issued a statement Thursday afternoon to address Reid's comments.

"The statement yesterday by Senate Majority Leader Harry Reid does not apply to MetLife. MetLife is financially sound and has high ratings from all of the major insurance ratings agencies. MetLife is fully able to meet all its obligations," the company said.

Shares of Hartford Financial Services (HIG, Fortune 500) fell about 33%, following a 7% decline on Wednesday. The stock has lost more than half of its value this week.

A spokesman for Sen. Reid backtracked a bit Thursday and said that the senator was not aware of any company being in danger of bankruptcy.

"Senator Reid is not personally aware of any particular company being on the verge of bankruptcy. He has no special knowledge about [a bankruptcy] nor has he talked to any insurance company officials," said Jim Manley, spokesman for Sen. Reid, in an email to CNNMoney.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," Manley added.

Still, shares of other top life insurers also fell sharply Thursday. Paris-based AXA (AXA) dropped 12.5%%.

Other insurers -- including Canadian based Manulife Financial Corp. (MFC), which owns John Hancock, Prudential Financial (PRU, Fortune 500) and Principal Financial Group (PFG, Fortune 500) -- also slipped, falling 6%, 11% and 15.5% respectively.

[USRanger]

Saw that on the news earlier.  Yes, he said it, and yes, he is that stupid.

[Getback]

Dear Lord. Helllllllllllllllllllllllllll llllllllllllllllppppppppppppp p

[Captain Virgil Hilts]

Worse yet, people VOTE those idiots into office, repeatedly.

[lasersailor184]

Unfortunate.  Senators have been hanged in the past for lesser offences.

[Wayout]

Is Harry this STUPID, or is he making money off this? The leader of the US senate CAN'T say crap like this.

Politics.  History shows that when people are happy they tend to vote republican and when they are hurting they vote democratic. Reid and Pelosi are attempting to cause so much missery that even the likes of Obama will get elected.  Think of the debt Obama will owe these two if he does win.  Obama, Reid and Pelosi running the country with no checks, no balances.  These people are so far to the left they would scare the pants off Stalin.

If you've been waiting for the October surprise wait no more, it's here. 

[Sixpence]

"The statement yesterday by Senate Majority Leader Harry Reid does not apply to MetLife. MetLife is financially sound and has high ratings from all of the major insurance ratings agencies. MetLife is fully able to meet all its obligations," the company said."

Change the name and entity and you've got a barney frank quote


Shares of Hartford Financial Services (HIG, Fortune 500) fell about 33%, following a 7% decline on Wednesday. The stock has lost more than half of its value this week.

*sniff sniff* I smell a bargain!!