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Don't really know if this belongs in Debates, but I thought I'd note for all the market junkies out there: Geithner made an extensive speech today, detailing why he believed overhaul to the financial system is necessary and how he might accomplish it. Regardless of the merits of his comments, at least they were extensive and showed he actually thought through issues (as versus the last several public comments he's made). The market at least appreciated that he seems to be realizing that a little bit of competent leadership is needed.
Maybe Obama gave him a hard kick in the pants. He must realize that his attractive looks and poetry aren't getting the job done in terms of building financial confidence. Obama's remarks as of late regarding his belief that people should be buying stocks have fallen on deaf ears. They seem to be personal endorsements of behavior, as first professional recommendations, of course, and I doubt anyone sincerely believes that Obama has any clue what he's doing on the issue of market timing. But Geithner appearing to rise to the occasion here actually has some traction. He'd be a better salesman.
Maybe Obama gave him a hard kick in the pants. He must realize that his attractive looks and poetry aren't getting the job done in terms of building financial confidence. Obama's remarks as of late regarding his belief that people should be buying stocks have fallen on deaf ears. They seem to be personal endorsements of behavior, as first professional recommendations, of course, and I doubt anyone sincerely believes that Obama has any clue what he's doing on the issue of market timing. But Geithner appearing to rise to the occasion here actually has some traction. He'd be a better salesman.
I don't think it is so great either but it is a nice break from the doom and gloom even if it is likely a brief break.
Imprecise way of expressing myself. If I remember correctly, though, the day after it expired, the market was a hard down (people had been sitting around, trapped in positions, waiting to dump).
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