Market response to Obama and Geithner's plan: Complete and utter failure

I say anything that pisses off the likes of Texxx and Jorgie is a good thing and is obviously the right thing to do!

Well done!

 

Normally I would agree with you b/c that probably means Obama is doing good, but for some reason he seems to be laying some stuff on a sliver platter for them.

 

like not solving the worst financial crisis in decades in a matter of 2 months, one while actually being in office?

this complaining is ridiculous, this crisis is a lot more complicated than people are willing to accept and wall street still may be over valued on fundamentals after this sell off.

 

I wasn't just refering to this. He has had some questionable nominees as well.

 

Still may?

The Masters don't like the idea of the stress test and they don't like the idea that they may be taken over. Screw 'em.

If this combo of sell offs and stress tests gets people to accept the reality and admit their true debt, then it will be a major step towards fixing our economy.

 

probably...and much more so than some knee jerk "stimulus package" little stimulus.

We should all just take our lumps and keep a stiff upperlip

 

The media is correct to jump all over Obama's botched handling of this financial situation. Obama has yet to take a proper step, indicating to me that his leadership instincts are horrible. This is precisely why it's important to have a leader in the Oval Office -- not an arrogant, egghead, no-accomplishments bloviator with a good marketing team.

This financial crisis is Obama's Katrina.

 

And he inherited it from the President responsible for the mishandling of the original Katrina.

Thanks for playing, rookie.

 

Interesting. You've been one of the great defenders of W in regards to Katrina, often heaping opprobium upon the denizens of NOLA and at a minimum implying they were selfish and stupid, while castigating the local and state politicians involved. I take this post to mean that you find the bankers and Wall Streeters were just as selfish and stupid and the Republican-run SEC was just as bad.

 

they're laughing at him. 3 weeks, and already they're laughing at him.

maybe he needs to adopt his stern god voice...

[rquoter]Administration officials were greeted with sarcasm and laughter Monday night when they briefed lawmakers and congressional staff on Treasury Secretary Tim Geithner's new financial-sector bailout project, according to people who were in the room.

The laughter was at its height when Obama officials explained that the White House planned to guarantee a wide swath of toxic assets -- which they referred to as "legacy assets" -- but wouldn't be asking Congress for money. Rep. Brad Sherman (D-CA), a bailout opponent in the fall, asked the officials to give Congress the total dollar figure for which they were on the hook. The officials said that they couldn't provide a number, a response met by chuckling that was bipartisan, but tilted toward the GOP side. By guaranteeing the assets, Geithner hopes he can persuade the private sector to purchase a portion of them.

Congress may be able to do little more than laugh. The Federal Reserve, in extreme situations, is allowed to intervene in the financial markets in dramatic ways. The Fed jumped into the markets long before the $700 billion bailout passed through Congress by guaranteeing toxic assets held by CitiGroup and Bank of America.

The White House still has roughly $350 billion in Congress-appropriated TARP funds to use, and the officials told the group Monday night that it planned to use $50 billion for foreclosure mitigation and further amounts to shore up bank balance sheets.

The officials also said that a review of the bank's books would be undertaken to determine whether they could handle an even more severe economic downturn.

People briefed on the meeting also said that the White House proposed expanding the Temporary Asset Lending Facility (TALF) by up to one trillion dollars in order to shore up the market for credit card and auto loans. It would be a joint project of the Federal Deposit Insurance Corporation and the Treasury's TARP funds. [/rquoter]

 

They are? His stimulus plan approval rating, as well as his own approval rating is pretty high right now.

His stimulus plan has 67% approval rating.

http://www.gallup.com/poll/114202/Obama-Upper-Hand-Stimulus-Fight.aspx

Reality shows that the public is finding out they like Obama's plans so far. You just keep living in your world though.

 

What do you expect from Obama, he voted for the first bailout bill before he was in office. Even if Obama had a clue what was going on, there's way too much pressure on him from Wall St. for him not to get this done, even though any informed person knows it's a total joke.

 

67% of people are complete idiots who have no clue what's going on in politics. The Obama Kool-Aid hasn't run out quite yet.

 

Well we do know that some form of govt. spending is beneficial to stimulate the economy. Sadly the money for education, and some of the health care stuff was taken out.

The plan isn't perfect, but it does have plenty of stimulus in it. That's a good thing with a history of success, and we also have seen what happens when the govt. does the wrong things, and doesn't act strongly enough like in Japan.

Of course what has no backing evidence is the idea that 67% of the people favor the stimulus only because they are in awe of Obama. It might just be that they have seen the history, and realize that some type of stimulus is a good idea. They may be judging the stimulus based on the stimulus and not some Obama kool-aid effect as you claim.

 

My polls directly show your initial claim that America was finding out that Obama was clueless is utterly false.

Of course now you've tried to move the goal posts, but the record stands.

 

from yahoo

 

I guess there are different polls. I usually trust the pew research center more than I trust gallup too.

 

obama? what about our worthless fed?