Why Harry Reid is not a securities analyst. Here’s Reid in the L.A. Times on what he sees as an effect of the killed bailout bill:
Senate Majority Leader Harry Reid (D-Nev.) said he feared the effect on the stock markets today.
“It’s not going to be pretty,” he said. “Millions of Americans, not only the autoworkers but people who sell cars, car dealerships, people who work on cars, are going to be directly impacted and affected.”
The market closed up 64 points on Friday.
And via Hot Air’s headlines, the same article from the Times fails to mention that 10 Republicans did vote for the measure:
Senate Democrats couldn’t bring the measure up for a vote without the support of at least 10 Republicans. Ultimately, they were seven votes short.
As we posted on Saturday, those seven votes were Dems.