The words are not pleasant, but veteran San Francisco money manager and stockbroker Gary Wollin probably best captures Wall Street’s rapidly mounting concern about Barack Obama.
“It looks to me like the Obama market is fast becoming an Obuma market,” he says. Relating primarily to the sagging economy, Wollin observes that “we’re literally asking the guy to turn the Titanic around overnight, a Hurculean task, and no one really knows whether he can stop the sinking.”
No two ways about it. Obama wowed the voter, but the stock market, judging from its initial 2009 showing, clearly worries that he’s a lightweight. The fact is our 44th President has gotten a chilly reception from Wall Street, which is unhappy over his failure to clear a meaningful market-boosting stimulus package through Congress and his criticism of the Street’s billions in bonuses.
Click here to read the full article…
