AC 360 a dud
March 3, 2009
I just watched Anderson Cooper 360 where for twenty minutes the discussion was whether the continuing market slide was an indication that Obama’s handling and policies were duds.
Not once did they mention that in just the last week we’ve had 2 more bank bailouts, the largest quarterly loss in history, ‘worse than expected’ home sales numbers, several dividend cuts, more mass layoffs, worst ever car sales, Warren Buffet having his worse year in 44 years career, and his declaration that “the economy will be in shambles throughout 2009”.
Each of these can easily knock the market a couple points. If anything I’m amazed we’ve had some days with minimal losses.
No no no, according to the three guests (including a WSJ editor) the market was passing judgment on poor leadership, coming tax increases and a stimulus package that is really only “one-third stimulus”.
Perhaps they’re just regurgitating the CNBC take, with no real analysis of their own. Or maybe the fight with ‘special interests’ is now full on.
I wonder what these guests will say when the market makes any gains: The market loves higher capital gains taxes!! Yeah right.