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President Obama’s 2,000-point tumble
Michelle Malkin ^ | February 17, 2009 | Michelle Malkin

Posted on 02/17/2009 9:45:45 AM PST by TennTuxedo

President Obama’s 2,000-point tumble

By Michelle Malkin • February 17, 2009 10:37 AM

On Nov. 4, after Barack Obama clinched the White House, the market closed at 9,625.28.

In mid-morning trading today, the day President Obama signs his massive Generational Theft Act into law and a day before he unveils a massive new mortgage entitlement, the Dow dropped to to 7,606.53.

Now, imagine if President Bush had presided over a 2,000-point stock market tumble in the same time period — during the first few months of his presidency.

Great start, O.

Just saying…


TOPICS: Business/Economy; Constitution/Conservatism; Culture/Society; Extended News
KEYWORDS: 2000pointdrop; bho44; bhodjia; bhostimulus; economy; first100days; malkin; obama; obamanomics; worst100days
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To: icwhatudo
“People will claim the market was already heading in that direction.....funny how they don’t say that about Clinton and the 90’s.”

Well said. My portfolio was disappearing weeks before Bush was inaugurated. It took Bush to eventually get it back.

If there is any antidote to all of this revisionist history pain we suffer, it would have to be a newspaper I have at my office desk. Date December, 20, 1998. Headline: CLINTON IMPEACHED.

21 posted on 02/17/2009 10:08:27 AM PST by NavyCanDo
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To: TomGuy

I know quite a few people who got out of the market before the 0ne took over the reigns. So really that drop could be due to people knowing what the Marxist in Chief was going to do.


22 posted on 02/17/2009 10:12:37 AM PST by CajunConservative (F U 0bama)
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To: CajunConservative

I got out and haven’t looked back.


23 posted on 02/17/2009 10:35:00 AM PST by MattinNJ (Palin or Sanford in 2012)
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To: a fool in paradise
Louis Freeh and Jamie Gorelick made millions.

Louis Freeh, former FBI director? Do you mean Franklin Raines?

Great charts. Can you provide a link to the site?

24 posted on 02/17/2009 10:44:54 AM PST by Just A Nobody (I *LOVE* my Attitude Problem - NEVER AGAIN...Support our Troops! Beware the ENEMEDIA)
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To: CajunConservative
I went liquid January 20, 2009 beginning at 12:01 PM.
I was VERY specific with my broker. He was to begin the transactions at exactly 12:01.
25 posted on 02/17/2009 10:50:00 AM PST by Just A Nobody (I *LOVE* my Attitude Problem - NEVER AGAIN...Support our Troops! Beware the ENEMEDIA)
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To: Just A Nobody

I just did some Yahoo Finance graphs.


26 posted on 02/17/2009 10:51:51 AM PST by a fool in paradise (Song of the day Friday the 13th, February 2009. - The Kinks' Sold Me Out. The American Dream is over)
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To: Just A Nobody
Louis Freeh was on the board of directors at Fannie Mae.

Must've been one smart banker, huh?

USA Ptooey doesn't permit FR to quote their articles:

Ex-FBI Director Freeh joins Fannie Mae board (5/23/2007) (Al Reuters, via USA Today - link only)

27 posted on 02/17/2009 10:55:53 AM PST by a fool in paradise (Song of the day Friday the 13th, February 2009. - The Kinks' Sold Me Out. The American Dream is over)
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To: TennTuxedo
Now, imagine if President Bush had presided over a 2,000-point stock market tumble in the same time period — during the first few months of his presidency.

I just hate it when our Right wing pundits are equally as dishonest as Left wing pundits.

Obama was sworn in as president on Jan. 20, less than a month ago. It is fair to say that the markets tumbled 2000 point since Obama's election, but not in the first "few months" of his presidency. Not yet, anyway. Let a few months pass, see where the market is then, and tag him with the blame if he deserves it.

28 posted on 02/17/2009 11:06:37 AM PST by Wolfstar (Elections have thousands of consequences. Some minor, some major...and some that can kill you.)
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To: TennTuxedo

Hard to read this. All you usually thoughtful people here quibbling about what is/was Bush’s, Clinton’s, 0bama’s fault. People elect representatives and leaders, no one of whom, even a president, bears sole responsibility for much beyond his own desk.
0bama’s a convenient pinata here, just like his predecessors. Blame the voters, the marauding swine.


29 posted on 02/17/2009 11:11:28 AM PST by 668 - Neighbor of the Beast (American Revolution II -- overdue.)
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To: TennTuxedo
CNN Spin today:

Stocks at 3-month lows / Finally they're cheap

Typical way for them to turn bad news into good.

30 posted on 02/17/2009 11:13:08 AM PST by NavyCanDo
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To: NavyCanDo

Good point at his end. I was actually talking about his beginning-how the economy was improving before he formally took office.


31 posted on 02/17/2009 11:13:13 AM PST by icwhatudo
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To: TennTuxedo
Soon that mood will spread to disenchanted voters.

Absolutely. It's happening here in NYC already. Lots of buyers remorse among rats.

32 posted on 02/17/2009 11:13:42 AM PST by jersey117
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To: NavyCanDo
Stocks at 3-month lows / Finally they're cheap

LOL .... so how come no one's buying? It won't be long before the MSM spins itself onto the unemployment line. They actually think they're immune.

33 posted on 02/17/2009 11:15:19 AM PST by jersey117
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To: TennTuxedo

From November 13 - the last big day for the markets:

Bush defends free-market system

Mr Bush’s comments seemed to please investors, as America’s main Dow Jones index ended up 6.7%.

http://news.bbc.co.uk/2/hi/business/7728048.stm


34 posted on 02/17/2009 11:19:12 AM PST by jersey117
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To: johnnycap

People talk about the Hillary/Obama race and the effect on the market -

how about when McStain secured the nomination?


35 posted on 02/17/2009 11:23:45 AM PST by MrB (The 0bamanation: Marxism, Infanticide, Appeasement, Depression, Thuggery, and Censorship)
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To: TennTuxedo
Headline?

Bear market unfair? Maybe racist?
Obama wants SEC "Fairness Doctrine"
Too many "big money" conservative investors, "Invest or lose license."

36 posted on 02/17/2009 12:16:11 PM PST by WilliamofCarmichael (If modern America's Man on Horseback is out there, Get on the damn horse already!)
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To: NavyCanDo

Radio news said that the markets dipped today because of European markets, not because of the signing of the bill in Denver. Deny deny deny.


37 posted on 02/17/2009 12:16:16 PM PST by a fool in paradise (Song of the day Friday the 13th, February 2009. - The Kinks' Sold Me Out. The American Dream is over)
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To: TennTuxedo
Change Same old, same old we can believe in.

Obama has never been anything but a corrupt money changer who happened to deliver a FEW good speeches.

Corrupt money changers pretend to be performing a public service, but they really enrich themselves (and the members of their inner clique).

Obama, the Money Changer at the Temple

38 posted on 02/17/2009 1:16:08 PM PST by syriacus (Obama's stimulus doesn't REALLY give us a chicken in every pot. It gives us a pig in every poke.)
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To: TomGuy
It tumbled nearly 4,000 in the waning weeks of the Bush admnistration.

Hmmm..... The market tumbled under Bush. It's tumbling under Obama. What could be the common denominator?

A Democratic Congress!

39 posted on 02/17/2009 1:19:26 PM PST by syriacus (Obama's stimulus doesn't REALLY give us a chicken in every pot. It gives us a pig in every poke.)
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To: syriacus

Pelosi’s Fault!


40 posted on 02/17/2009 1:20:14 PM PST by dfwgator (1996 2006 2008 - Good Things Come in Threes)
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