Thursday, March 5, 2009
Did Obama Cause the Stock Slide?
I think many Americans are wondering the answer to this question. While technically, President Obama does not have much authority to change much on Wall Street, the actions he has taken are somewhat up in the air. First came the stimulus package and the problems that have been illustrated by the media reduced any effort that might have driven stock prices back up. Then, Tim Geithner's inability to communicate a plan with regard to banks and the housing market caused greater concern over the future of those industries. I would like to see the markets grow back up, but for that to happen, confidence in the future of the market needs to be restored and without proper planning and communication by the Obama administration, this task becomes extremely difficult.
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