Time for Obama to take the lead in Financial fiasco

By: relawson
Published On: 11/20/2008 6:48:00 PM

President Bush is clearly not capable of addressing the financial mess we are in.  The people have no confidence in him and the result is an economy that may be crippled by the time Obama takes office.

We can't afford for Obama to remain silent any longer.  There may be one President at a time, but we don't need for Obama to make Presidential decisions that will take place now - obviously they won't.  We need him to calm the markets and to provide thought leadership.  It is time that he announce who will take over the Treasury and it is time for them to reveal details of their economic stimulus plans.  Markets don't like mystery.

This economic crises is serious and there is no time to waste.  Bush is AWOL.  Obama shouldn't be.

Comments



Thank you Obama for making me feel like a genious (relawson - 11/21/2008 6:35:21 PM)
Just yesterday I made a call for Obama to step up and unveil some of his plans to solve the financial crises we are currently faced with - in this very diary.

I said he needed to do two things: "announce who will take over the Treasury and ... reveal details of their economic stimulus plans".  Today, Obama did just half of what I said he should do and as a result (announce his pick for Treasury Secretary) we had the fifth largest gain EVER in the stock market.

Obama needs to continue calming the markets this weekend.  It is time for his advisors to layout, again, what steps they will take to grow our economy.  They need to do this NOW.  George Bush had a vote of no confidence and the more he speaks, the worse it gets.  Obama and advisors should hold weekly addresses to the nation until inaguration and have a much more public role in the economic recovery.

http://money.cnn.com/2008/11/2...

NEW YORK (CNNMoney.com) -- Stocks rallied Friday, with the Dow industrials bouncing as much as 550 points, after reports surfaced that President-elect Barack Obama will nominate New York Federal Bank president Timothy Geithner as his new Treasury Secretary.

The Dow Jones industrial average (INDU) rose 494 points, or 6.6%, according to early tallies. It was the fifth-biggest single-session point gain ever, according to Dow Jones.

If Obama continues to simply reassure people, our economy will recover.  There are things that Congress must act on soon, but I believe that Obama can do just as much good by simply restoring confidence now.