US News & World Report, yesterday:
Jim Cramer, at the beginning of CNBC's Mad Money, reported that President Obama "actually said it was a good time to buy stocks," and added, "Given that it was Obama who knocked the whole darn thing down, he might have some inside information that he's done enough damage for now. …
Blaming the plunging Dow — even the plunging Dow of the last few days — is silly. The Dow dropped yesterday, for example, largely on the news that AIG would need more bailout money. Obama had nothing to do with the perilous state that AIG is in.
Furthermore, the Dow will continue to go down, I suspect, until credit frees up from the banks, and employment rises. Obama's policies cannot make this turnaround happen overnight.
That said, if Obama can be blamed for day-to-day downturns in the stock market, shouldn't he be given credit when the stock market goes up…. like today?
Dow Jones Industrial Average
(DJI: ^DJI)
| Index Value: | |
|---|---|
| Trade Time: | 2:09PM ET |
| Change: |  165.75 (2.46%) |
| Prev Close: | 6,726.02 |
| Open: | 6,726.50 |
| Day's Range: | 6,726.42 – 6,900.21 |
| 52wk Range: | 6,661.74 – 13,191.50 |