Can’t help it …

… that my posts are dominated by economic topics. Perhaps justified by the fact that the current state of economy is the biggest story in generations, and affecting generations to come. More from the wire … just in … so disappointing:

Geithner’s Speech Gets a Bronx Cheer From Markets

The early verdict on the Geithner plan: Too little, too little.

Markets are down, having had an adverse reaction to Treasury Secretary Tim Geithner’s presentation detailing the Obama Administration’s plan to pull the financial system out of its current morass, which many say is still too light on specifics. Certain facets of the plan resemble those that were entertained in the previous administration — with the exception of a stress-testing mechanism to determine which financial firms need assistance.

“Not doing anything is the worst option,” Dan Cook, senior market analyst at IG Markets. “Until there’s a firm plan in place it still seems like a lot of talk.”

4 thoughts on “Can’t help it …”

  1. Wall Street sliding even as President Obama signed into law the $787 billion US economic stimulus plan today …

    Market Update for 17 February 2009
    DJIA . . . . 7,552.60 down -297.81
    NASDAQ . . . 1,470.66 down -63.70
    S&P500 . . . . 789.17 down -37.67

  2. Yesterday, Santelli vs. White House … today, interesting White House reaction and more … see Rick Santelli’s criticism of the administration being discussed on CNBC.

    US markets down again due to more fears and uncertainty … Bank Nationalization Casts A Shadow as started yesterday by Bernanke’s Slip of the Tongue. Let’s only hope that next week Geithner does not repeat his pitiful performance like the one two weeks ago. Let’s be optimistic … hey, this deserves its own post!

    Market Update for 20 February 2009
    DJIA . . . . 7,365.67 down -100.28
    NASDAQ . . . 1,441.23 down -1.59
    S&P500 . . . . 770.05 down -8.89

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