Talk Talk Talk Talk Talk Myself to Death: Credit Where Credit's Due

Tuesday, February 10, 2009

Credit Where Credit's Due

Not good news today with the Dow falling 382 points, almost 5 percent. I was giving Wall Street the benefit of the doubt, speculating that they could be reacting to Geithner's new plan or the Senate passing their version of the stimulus. It looks, though, that people who know more than I do, are laying it entirely at the feet of Geithner and his nonspecific plan.

Well, that wasn't the most auspicious political d├ębut ever. Fifteen minutes before Treasury Secretary Tim Geithner unveiled the Obama Administration's new plan for dealing with the ongoing financial crisis, the stock market was down a little less than one per cent. By the time he finished his speech, it was down more than three per cent, and it continued to tumble from there.

Yikes.

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