by violentz

Well, the day arrived and left and took the stock market with it.

This was the day Barack Obama’s pick for Treasury Secretary, Timothy Geithner, was supposed to unveil the administration’s brilliant new plan to save the banking system in the U.S. from itself.

Only, it didn’t exactly work out that way.

Investors were so unimpressed…largely due to the amazing lack of detail…they plunged the Dow down 4.6 percent.

The mistake Obama made is he let expectations build up to this day and when the plan was finally announced, it was a big let down to many.

Lots of money involved—2.5 trillion–and a lot more government intervention, but no real sense was given on how this would all actually work.

I understand that no one…Obama included…has all , or even some, of the answers to what is now a global debacle, but those who were among his most ardent and early supporters, I think, expected a lot more from his administration even in this early stage.

Obama is great at speeches…..though his first presidential news conference was laden with his overly long answers that tended to confuse rather than clarify. But he has thus far not proven to be a very skilled politician.

It may have sounded great when, as a candidate, Obama took potshots at experienced politicians in Washington…but the sad truth is, maybe his stimulus plan would have an easier go of it in Congress if he were a more experienced politician himself?

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