cristian

Geithner!

On Nov 21 10:55 PM hoover wrote:

> Geithner is believed to be nominated for Treasury Secretary and the
> DOW gains 450 points or so. That in itself shows there is something
> radically wrong with the market and the entire financial system.
> A worldwide house of cards, Ponzi scheme, chain letter, or mountain
> of leverage on top of leverage, isn't going to be changed soon when
> it starts coming unglued and has built up momentum for a couple of
> years. If Obama and his financial team even slow the downward direction
> of this monster in four years they will have achieved unbelievable
> success. But, they will be criticized as if they failed miserably.

The market was looking for anything.... to get out of a short squeeze.
It is a subjective thought, but twice now the market has bounced back from about the same lows, maybe that is the bottom.

As far as Geithner, he may be a good man, I don't know of him, but this economic predicament is much bigger than any one man.
It remains to be seen how the Obama administration will be able to deal with the fundamentals.

What has been done so far is windows dressing, if it remains at this stage, the market will chew it up and spit it out, along with the hacks that attempted to perpetrate the so called bailout, or whatever you want to call it.