Completely Irresponsible

The Ragister, and their reporter David Elbert, sunk to an all time new low and the scientific community is united in that fact.

In the top story on the front page of Saturday's paper, Elbert is allowed to inject conjecture and speculation from an "anonymous broker friend" as to why The Principal Financial Group has taken a market hit on it's stock.

Two reasons, said my broker friend: uncertainty and fear.

He's not sure why or when, but he says at some point major investors lost confidence in the balance sheets of Principal and other major insurance companies. Investors became fearful that the same type of bad investments that sunk Lehman and AIG might be hiding in the balance sheets of other insurers, he said.

I can see why his broker friend didn't want to be named, he doesn't know shit!

It had more to do with U.S. Senator Majority Leader Harry Reid (DUMMYCRAT/NV) and his frivolous remarks of October 2nd...

"...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..."


















Reid's careless announcement of an anonymous rumor helped sink Principal stock 15.5%.

The Ragister doesn't allow anyone to write an anonymous letter to the editor, but allows a reporter to quote an anonymous friend for a front page news story.

Interesting journalistic standards.