CNBC, 6:00 a.m., Tuesday, March 3, 2009.
Apparently, the proximate cause is some Rupert Street Journal editorial he's read and regurgitated, almost thoughtlessly.
The Banks aren't worth anything in America (at least, to people who owned their shares - their Executives, of course, ... well, that's another story).
We are finding that out in the 1Q09, in ways that Paulson & Co., under Bush, never leveled with the public about.
Apparently that is Team Obama's fault, on CNBC's calculus.
[Personally, I'm waiting for Michelle "Wound-Up" Carusso-Cabrera to meltdown, but I think I might be waiting a long time. Unless she hosts with Larry Kudlow - that's like a Scorpio-Scorpio on-air pairing.]
Update2: he's still regurgitating the same piece, Day+1, forcing it on Orzag
Update, below the fold:
Update: More Wall Street nonsense.
Hey, I'm frustrated, as well, that the Obama team didn't have plans ready to go from day minus 90; but Art Cashin suggesting that there is a wiff of frustrated recovery in the air?
Look, we're coming up to an important home-sales number he didn't even mention, this morning, which could emphasize how glum it is and AIG just put up the largest corporate loss in history, casting a shadow over all asset quality, once again. Yet, it is Obama's fault?
This is why the calls for Team Obama to stay credible with "the markets" is a wasted effort.
Of course, they should pay attention, but they aren't going to get an honest ear, from the press or the participants. Just focus on getting the job done, as clearly and consistently and "masterfully" as possible, I say, and ignore the knee-jerk rightwing.
Tuesday, March 3, 2009
Joe "I love Jack Welch" Kiernan, Finally Melts Down
