Dennis Kneale at CNBC a href=”http://www.cnbc.com/id/29369506″comments on Obama’s speech tonight:/abr /br /br /blockquoteRemember the excited, butterflies-in-the-tummy feeling we had the first time we got to watch the newly elected President Obama address the nation?br /br /One month later a queasy sense of dread emerges whenever he takes the lectern. As our new president prepares to address both houses of Congress at 9 p.m. eastern, the markets and investors brace for his next damaging soundbite.br /br /”Every time the guy speaks, the Dow starts falling,” complains one venture capitalist, Ross Manel of ReStart Group in Addison, Texas.br /br /Bam was the Message Man during his incredible campaign for the presidency, besotting millions with his reassuring call for hope and change. Since taking office he has plied an entirely different—and wrongheaded—message, one of fear and fingerwagging, of crisis-mongering and retribution.br /br /This has been damaging to Citigroup, Bank of America, J.P. Morgan Chase, Goldman Sachs, Morgan Stanley and their ilk. We need these firms to help us find our way out of this financial abyss, yet the President decries a compensation system he doesn’t understand. He carps at Merrill Lynch’s now-ousted chief, John Thain, for spending the equivalent of ten minutes of revenue to redecorate his office.br /br /Dude-in-Chief: It just isn’t any of your business./blockquotebr /br /I’m not sure that this Kneale guy was listening carefully enough when “the Message Man” was running his campaign. I heard the fear and fingerwagging then too. It wasn’t like Obama was tryng to hide his message of retribution and crisis mongering then. It’s just that no one wanted to hear it; they were too busy trying to get the first African American President in office to “make history.” Nothing else mattered.
February 24, 2009 - 12:03 pm