MSM continue to blame Obama for market decline: "Obama's Speech Didn't Wow Wall Street"

[sabra]

http://abcnews.go.com/Politics/Business/story?id=6954907&page=1


Obama's Speech Didn't Wow Wall Street
President Obama Pivots from Economic Speech to Iraq Speech

...

Doreen Mugavero of Mugavero Lee & Co. called the president's speech "optimistic spin."

"It was a very good feeling for Americans and did a lot for confidence," Mugavero said. "However, the economic data continues to erode and things are not going to happen no matter how optimistic he is."

The president's speech was a factor in the market's downward movement today, she said.

"There was no new news in his speech... There were no real results he could show us yet, and that was disappointing," Mugavero said.

David Wyss, managing director and chief economist at Standard & Poor's, agreed. Wyss said Tuesday's rally was due in part to Federal Chairman Benjamin Bernanke's optimistic projections as well as anticipation of Obama's upcoming speech. He believes traders were disappointed in the speech.

"He didn't offer any quick fixes, not that I think there are any available out there," he said. "People are still in the mood to be gloomy."

:eyes:

[City Lights]

1. Well, Wall Street has yet to "wow" me so I second your...

:eyes:

And a big FU to the corporate hoore media who all live in the same bubble.

[bdamomma]

2. Effing Wall Street the free ride is over.

[Deep13]

3. POTUS made it clear in his speech that he was not...

...trying to impress Wall St. speculators.

[Sebass1271]

17. I remember that and this is the part that made me cheared the

most. Wall Street had its turned. It is Main Street's turn now.

[Dawgs]

4. So, it's Obama fault, but there was nothing he could say anyways.

WTF!!

[nadinbrzezinski]

5. I recommend people open a history book on or about 1933

about the media

Same playbook, exactly same playbook

The "neutral media" that many older folks remember from the 1950s to the 1970s came out of the excesses of the Great Depression

Hell, the Fairness Doctrine came straight from the screaming heads of that time. father coughlin chiefly (as well as fears that the new medium could be used for propaganda purposes like oh in Germany)

This is so damn predictable it is not even funny

[Kalyke]

14. Those who don't know history are doomed to repeat it.

[nadinbrzezinski]

19. On the bright side, the republicans have not learned either

so the talking heads and their screechers are increasingly overreaching giving all kinds of excuses for something like Fairness to come back

Which reminds me, need to demand this AGAIN

People forget, media in the US is highly partisan, and has been since 1776

[graywarrior]

6. That's a good sign to me

Fuck Wall Street.

[TheCoxwain]

7. fuck the wall street .. if CEO's werent staring so hard at the next Quarter

and were looking at long term growth - maybe we all wouldnt be in this soup ..



In fact, Bonuses, if any and by law, should be tied to performance over a 5 year or greater time horizon ...


that will put all the jumping jacks right back into their boxes

[emulatorloo]

8. wall street = shreiking overpaid ninnies who over react to silly rumors

Time for wall street to grow up.

[ej510]

9. Wallstreet is Vegas on a bigger budget.

[DJ13]

10. We need the MSM to stop equating Wall st with Main st

Wall Street is just a gambling house, it has NEVER represented the real economy we live with.

[Bill219]

11. Here's Reuters take

http://finance.yahoo.com/news/Stocks-fall-as-Obama-fails-to-rb-14467865.html

Stocks fall as Obama fails to deliver details

NEW YORK (Reuters) - Stocks fell on Wednesday as President Barack Obama's first address to Congress shed little new light on how he plans to stabilize the economy and shore up banks, and gloomy home sales data fed the negative sentiment.

Obama said in his speech on Tuesday night the United States would emerge stronger from the ongoing crisis, but investors found little in what he said to spur buying after the market's rebound on Tuesday from 1997 lows.

"He gave a very good speech in terms of making the citizens feel better about some of the things going on, but there is still a lot of work to be done," said Tim Smalls, head of U.S. stock trading at brokerage Execution LLC in Greenwich, Connecticut.

----------------------------------------more at link

unbelievable...notice how Wall Street takes no responsibility for this mess

I hate these fuckers so much

[Deep13]

12. It still seems weird to be sticking up for a president on this website.

:shrug:

[Median Democrat]

13. Of Course, The DOW Is Now Recovering, So What Will MSM Say?

Here is another premature piece of GOP propaganda by the financial media blaming Obama for a drop n the DOW:

http://finance.yahoo.com/news/Stocks-fall-as-Obama-fails-to-rb-14467865.html

Of course, the DOW is now recovering, so it will be interesting to see how they spin that.

[Sebass1271]

15. Wall Street has not gotten it yet. The

American people don't give a flying hoot what they think. It is our time now. F* them.

[Peacetrain]

16. Obama "spanked" wall street and the banks..

:rofl:

[Jennicut]

18. Since when does Wall St. dictate how the average person feels about the economy

or the President? The movers and shakers there who really control how much the market goes up or down are all upset that the free ride is over.

[11 Bravo]

20. Ummmm, the DOW is up right now. Drudge even had to take down his headline...

which read "Was it something he said?"