Litigation

Excuse me, I've got to rant off some steam!

How about our elected officials learn to shut their frickin' cake holes and lock themselves in the chamber until they get the bail out bill done? Gaffe after gaffe at the expense of people's pensions! Unfortunately in this case their untimely words influence markets

First House Speaker Bella Pelosi's "edraculation" apparently influencing in The House rejection of the bailout, in a prelude to the 700 point "blood letting" in the market

Then we have Harry Reid ("Help Me Bleed")'s comments about a mysterious "insurer on the verge of bankruptcy" which resulted in major drops for 3 major insurers on this unsubstantiated rumor spread by Mr. Reid.

After the damage was done this is what Reid's spokesman said: "Sen. Reid is not personally aware of any particular company being on the verge of bankruptcy. He has no special knowledge about nor has he talked to any insurance company officials. Rather, his comments were meant to refer to the conditions in the financial sector generally. He regrets any confusion his comments may have caused."   Tell that to Hartford shareholders who lost 32% today, or MetLife's 15% or Prudential's 11% Harry!

Perhaps Ms. Pelosi and Mr. Reid and any other members of our legislative branch who suffer from selective amnesia when it comes to the adage of "think before you speak" will learn to exercise more discretion at times of crisis for the benefit of the majority of American citizens, , many of whom put them in office,whose lives are touched by these companies. In the meantime the following seems appropriate:

I feel so much better now.

Music: Stuck In The Middle With You by Stealers Wheel, a song that was popular during the time of the unpopular Vietnam war and the 1973 Oil Crisis, regarded as "the first event since the Great Depression to have a persistent economic effect"