"This is the greatest wealth destruction I've seen by a President."Hub Blog's response: Anyone who reads this mighty blog knows I'm disappointed in Obama. His stimulus package was flawed and loaded up with standard liberal junk (I'd grade it a C, at best). His financial-system plan isn't a plan and the non-plan plan is in the hands of a border-line discredited treasurer (I'd grade it and him a D-). But I'm not going to blame Obama for the stock market or economic plunge since he took office. As a Hub Blog friend recently put it, the economy was driven over the cliff during the Bush administration -- and now some are trying to blame Obama for the economy hitting ground while he's in office. Hell, even I -- and the NYPost -- knew last year the market and the economy were in for a brutal times in 2009. The idea that the current wealth destruction is the result of Obama's five-week-old policies, many of which haven't been implemented yet, is ludicrous and shows once again that many conservatives aren't staring reality in the face.
Now there's a legacy.
Meanwhile, watch developments in the land of ordinary people trying to make a living and plan their family's futures. Forget about whether or not you like the personalities, Limbaugh and Cramer are right!
"Correlation is not causation" but will intrepid business reporters note that the too big to fail institutions (Citi, GM, AIG) have only gotten worse since receiving various forms of bailouts? Unfortunately for Obama (and right now, us), markets do work...