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2/10/09

AP Finally Notices That Stocks Fall When Obama Announces Bailouts

Back in October, the Associated Press oddly claimed that stocks rose because investors were in a dire situation and wanted a bailout. Didn't make sense to me (their report is also now oddly missing). Then in November, the Associated Press again claimed stocks rose in anticipation of a bailout, but they ignored the nosedive in the stock market the moment the bailout was approved.

Well today, taking a cue from CNBC, AP admitted that stocks fell today when Geither announced a bank rescue plan.

NBC, who has connections to tax-cheat Geithner gave a lame excuse however: He left "Wall Street with too few details with no roadmap." Fair and objective reporting from the evil network!

AP on the other hand quoted Jeff Buetow, senior portfolio manager at Portfolio Management Consultants: Geithner "basically puts a spotlight on the fact that the government has no idea how to fix the problem." Ouch!

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