The administration, smarting from their drubbing in Massachusetts caused both by fears of Obamacare and the sagging economy has decided to go populist by bashing Wall Street. The market, which had a small Scott Brown rally on optimism that Obamacare would be scrapped promptly went into an FDR-esqe tailspin losing 5.1% in three days. Lets see, the economy is in the tank because you've destroyed investor, owner and consumer confidence with grandiose policy proposals. The markets bounce on news that one of them might not happen. What to do? What to do?
OOH! OOH! I know! I know! Come up with a completely new set of grandiose and punitive proposals to punish banks and the investment community - that'll put a spring in investors' steps!
During the primaries they said that Barack Obama was the sharpest tool in the Democrat's shed. Must be an empty shed.
What a great resource!
ReplyDelete