Posted by
Arayem on Friday, October 10, 2008 2:34:11 PM
The stock market was recovering from a steep 600 point drop this morning, then President Bush went on TV to reassure the markets. The stock market promptly went into the tank. This has been happening with disturbing regularity. The stock market begins to recover, then someone from the Bush administration, whether Paulson or Bush or someone else comes out to tell us everything is all right, and the stock market goes into a tailspin. Investors are understandly wary about the government's ability to solve the financial crisis. Instead of reassuring the market, government officials are conveying a feeling of panic and a sense that they do not know what they are doing. The market will sort out the market. The government has done enough already. Instead of coming up with more plans and issuing more "reassuring" statements the government should just stop and let the market digest what has already been done.