This blog was previously devoted to seeing to it that Larry Summers get to spend more time with his family. Mission accomplished! The next mission is to provide the President with sage Economic advice.
Wednesday, January 14, 2009
The Summers Sell-off
It's a touch over the top to blame the market sell-off on Larry Summers, of course, but since the Obama stimulus package was announced, the Dow has dropped 800 points. I believe the market has dropped every day since the size of the plan came out... Certainly, other things have been going on, but it does not seem that the stimulus proposal has done much to reassure markets. We can still hope for that inaugural bounce...