Way back when on finance I had a fellow message boarder that went by the handle Flashcash and he claimed to be a fellow long but I’ll be darned if the guy wasn’t the best stock basher on the face of the planet. It was a small cap stock everyone knew had great upside potential but even if the company had a good quarter on conference call day Flash would always show up bitching a blue streak and if the price popped up he bitched even worse. It always had the desired effect and when the guy went on a rant he could not be stopped.
I could write a treatise to explain what the guy was doing but I won’t save for saying I immediately knew cyber Yoda when I met him and even though Flash was not looking for a Padawan he ended up with one against his will. In any event me and Flash are on good terms but he deserves some credit:
So what was Flash’s trick? I’m not saying no siree but I’ll share this:
Plaquemines Parish President Billy Nungesser praised Cassidy’s amendment but he also heaped compliments on Sen. Mary Landrieu’s efforts on the Senate side to delay premium increases that came along with making the NFIP more self sustaining. “That’s why I’m so glad Sen. Landrieu is speaking up, warning about this problem and leading the fight in Congress to fix this program so it works,” Nungesser said.
Now that the House has approved a delay in the increases for many, the legislation next moves to the Senate. Cassidy is challenging Landrieu, D-La., in her re-election next year.
A big key in the House was winning the support of U.S. Rep. Maxine Waters, D-Calif., who cosponsored last year’s reauthorization, Cassidy said. “She and Cedric did a good job of getting their side on board,” Cassidy said.
The fight was a “harder sell” with Republicans who are more concerned about the “taxpayer being exposed” to greater federal expenses, Cassidy said. GOP members had to be convinced that the flood insurance program is still on its way toward being more financially self-sustainable even with the amendment attached, he said.
One thing that scares these political cats worse than anything else is the loss of the office and for many of ’em, the chance to double deal. The House of Representatives doing something bipartisan on a money issue? When was the last time that happened? Yup.
Take a bow folks.