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Amateur Hour In D.C.

Mike

Well-known member
Geithner's plan falls flat
money.cnn.com/FORTUNE ^ | February 10, 2009 | Colin Barr


NEW YORK (Fortune) -- Treasury Secretary Tim Geithner failed Tuesday to persuade Wall Street that he will succeed where his predecessor Henry Paulson failed.

Geithner outlined the administration's plan to restart frozen credit markets and bolster the health of troubled banks. He said the economy will recover from its swoon only with the help of healthy financial institutions.

But observers said the Obama administration's plan is neither well-funded enough to recapitalize troubled banks, nor detailed enough to assure investors that the government can solve the toxic asset problem plaguing banks.

That, in part, is why stocks fell so sharply after the plan was unveiled, with the Dow Jones Industrial Average and other major indexes plunging more than 4% in mid-afternoon trading.


(Excerpt) Read more at money.cnn.com ...
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Tam

Well-known member
I find it funny that Obama wouldn't answer any questions last night at his press conference because he didn't want to take away from the light shining on Geithner this morning . Then today when the lights were suppose to be on Giethner, Obama skipped town for South Florida where he held a broadcast townhall meeting intended to scare voters into supporting his plans with more FEAR MONGERING talk.
 

aplusmnt

Well-known member
Seems big announcements either by Obama or about Obama really send the stock market dropping. Wonder how he will build the economy when all those powers to be in economic cringe when he talks!
 

hypocritexposer

Well-known member
Not sure his "fearmongering" will work in the town he was in last night, either. they build RV's there. They are mostly a one industry town.

His games aren't fooling many anymore, even the "liberals" on Ranchers, are not even wanting to "debate" anymore.

They are spending their time with their financial advisors, deciding the best way to spend their "tax savings", from using Turbotax.
 
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