Archive | United States Secretary of the Treasury

A Response to Obama's Speech From People Smarter Than Me…

Posted on 25 February 2009 by admin

…I’m talking about investors on Wall Street. After Secretary of the Treasury, Tim Geitner, failed to detail his bank recovery plan last weak (causing markets to fall on the following trading day) he had set the bar pretty low for Barack. From the story below, we can see that Barack is not one to back down from a challenge…

Via Reuters:

U.S. stocks fell on Wednesday on disappointment U.S. President Barack Obama provided few new clues about how his administration would shore up the economy in a major speech before Congress. Late on Tuesday Obama sought to reassure the country it would emerge stronger from the crisis but investors found little in his speech that could help the market hold onto its attempted rebound on Tuesday from 12-year lows. The Dow Jones industrial average .DJI fell 38.95 points, or 0.53 percent, to 7,311.99. The Standard & Poor’s 500 Index .SPX was off 5.01 points, or 0.65 percent, to 768.13. The Nasdaq Composite Index, IXIC was down 14.73 points, or 1.02 percent, at 1,427.10″

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