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Sorry MSM, since you didnt credit Obama for the Dow going from.....

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scheming daemons Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-22-10 05:43 PM
Original message
Sorry MSM, since you didnt credit Obama for the Dow going from.....
6400 to 10600 from March to December, you dont get to blame him for a 500 point drop over the past 3 days.

It can just as justifiably be blamed on Scott Brown's victory.
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Lasher Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-22-10 05:46 PM
Response to Original message
1. Did they mention the unprecedented loss in the stock market during the 8 GWB years?
Guess not, huh?
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no limit Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-22-10 05:49 PM
Response to Reply #1
2. Well Bush didn't leave the stock market any lower than he found it
of course the drop he started continued well in to 2009 until it was in the 6K range.
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Lasher Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-22-10 06:06 PM
Response to Reply #2
5. The hell he didn't.
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Bandit Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-22-10 06:16 PM
Response to Reply #2
6. Bull fucking shit
....
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no limit Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-23-10 08:20 PM
Response to Reply #6
7. It's not bull fucking shit, its a simple fact.
He created one of the worst down turns in the history of the stock market. But since that down turn started at the end of his administration when he left eventhough the dow jones average was down several thousand it was about where he found it.
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Make7 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-23-10 08:35 PM
Response to Reply #7
8. DJIA on 1/22/01 closed at 10,578.24 and on 1/16/09 closed at 8,281.22. ( n/t )
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TheWebHead Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-22-10 06:01 PM
Response to Original message
3. Obama has gotten credit
as has Geithner and Bernanke, but since the Brown win we've sort of seen a descent into meathead politics, with the pitchfork crowd wanting to politicize the Fed and dump Ben and get rid of Geithner as well, while Obama is treating the banking system which is trying to recover with an ill-timed blow to the head. Now is not the time to float trial balloons on how to punish banks, you just let them try to recover in an early cycle upturn and hope that the assets on their balance sheets (ie real estate) begin to be get marked up.

In my opinion, if you pie-charted this 5% downturn, you'd give 3% of the blame to Obama policy and dithering w/ Bernanke, while the other 2% goes to China putting the brakes on their economy.
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KittyWampus Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-22-10 06:04 PM
Response to Reply #3
4. somehow it's never the time to sort out the banking system. There is no faith in the system now
and still a lot of bad debt left rotting.

You can't put a bandaid on gangrene.
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