10 February 2009

NPR calls it: The stock market reacts negatively

Right after Sec. Treas. (I can't pay my own taxes) Geithner announced plans to use up to $2 trillion in NEW money to prop up failing banks, bank stocks led the way in a massive drop. A trillion here, a trillion there, pretty soon we'll be talking real money, along with generations of debt. NPR noted that the market drop is in large part due to the total lack of specificity (or limits) in the plan. No kidding!

Meanwhile, our erstwhile President seems content to blame President Bush and the GOP, despite the massive Congressional spending under a Democratic Congress (of which he was a part).

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