Reported by KGMB television, Hawaii:
Senate Banking Committee Chairman Christopher Dodd, D-Conn., sent bank stocks into a tailspin Friday with an unguarded comment. The White House had to issue its own comment later to restore equilibrium to stock markets. Some speculators could have made or lost millions.
What Dodd said, to Bloomberg News, was that while he did not like the idea of nationalizing banks, he could see where it might become necessary for a short time. And investors, thinking, “What does he know that we haven’t heard yet?” sold their bank stocks.
He didn’t know anything. He was just shooting off his mouth. But major bank stocks lost a quarter to a third of their entire value in a matter of minutes. The White House was obliged to issue its own statement that the administration feels private ownership is the way to go.
And remember this summer, when Sen. Schmucky Chucky “the American people really don’t care” Schumer (D-NY) sent IndyMac Bank into a death spiral when he issued a public statement questioning the bank’s viability?
That got me to wondering … who will be the next Democrat to say something incredibly stupid and put ordinary Americans in financial peril?
Will it be Vice President Biden, who was just picked by President to oversee the implementation of all the Democrats’ new Porkulus spending? Will it be President Obama himself? How about Barney Frank? Maxine Waters?
Who do you think, and why?