Why It’s Good News When Obama Sinks the Market

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Newman, if the market was sunk ,it was only your stupid interpretation.Where 2was it 10 months ago? your

Wally of WI 1:41PM January 22, 2010

that although Obama can tap into immense voter outrage over banks' profits and bonus payments to their "traders", AS OF YESTERDAY, Congress will not pass any taxes or regulations on corporations. Why? The Supreme Court yesterday gave corporations the means to threaten all politicians and make every last one of them into corporate puppy dogs.
As for the stock market, I have a feeling it is spooked for other reasons besides Obama's latest pronouncements. Truth be known, the market was over-bought and due for a run-down. That is where "traders" sense a mood shift (even if temporary) and start shorting again---out-smarting ordinary Americans and sweeping up their money again. Traders make money both directions. You pay for it.

Muser of NM 11:53AM January 22, 2010

after the incredible overreach we saw from the administration on healthcare, i suspect there will be a knee-jerk reaction from the right against financial reform. while the devil is in the details, and we haven't yet seen all the details... financial reform that keeps banking separate & distinct from other financial activity sure makes sense to me. banks are unique, in that deposits are guaranteed and they have access to very inexpensive taxpayer capital. it was "criminal" to extend $B's of virtually free capital to non-banks (e.g. G.S.). it shouldn't have been a big surprise to us that they leveraged that capital for huge gains. shame on us!
so far, we've read much about the destruction of wealth and the reduction of available capital that would accrue to this legislation. fooey! segregation doesn't necessarily translate into losses of wealth or capital.

pete w of HI 11:01AM January 22, 2010