During WW2, there were whole informational campaigns warning against the consequences of loose talk. “Loose Lips Sink Ships” is, perhaps, the most famous, but there were others.
Today, we need to update this campaign to educate our legislators — Loose Talk Sink Stocks. Our senators especially could benefit from such a campaign.
Charles Schumer started a run on the IndyMac bank with his comments last summer.
Timothy Geithner rolled out his “not a plan” and the markets crashed more than 375 points.
Most recently, our own Christopher Dodd answered a banking question, sending stocks down another 100 points with his ruminations on nationalization of banks.
Read the whole rundown here.