April 27, 2009
THE COUNTRY’S IN THE VERY BEST OF HANDS: Mayor Bloomberg outraged over military photo-op involving low-flying presidential jet. Judging by the comments at this WSJ site, Bloomberg’s not the only one. And reader Michael Grubbs writes:
In Jersey City, where I work, was in a mini-panic. Fire alarms pulled, buildings were evacuated. People were running down the streets. I heard it was worse in New York. All for a photo-op! Doesn’t sound like the present administration, does it?
What is it; the country is in the very best of hands? My gosh, if Bush did this, Rosie O’Donnell would be laid out prostrate on Broadway right now to protest.
A side note: Immelt must have got to CNBC. People in the WSJ comments section are calling for heads to roll. CNBC is talking about what a beautiful picture it will be.
Immelt seems to get to everyone. There’s bailout money for GE at stake, and the tone of their coverage must not interfere . . . ..
UPDATE: A hedge fund reader emails:
It’s not just Immelt. I can think of no high profile Street firm that is questioning the manic Keynesian tax and borrow and spend and spend government program.
It was bad enough when investors had to assume the Street was pushing its own financial agenda via its research product.
Now we have to assume the banks and brokers are pushing the government line.
As Yoda notes in Revenge of the Sith, “To a dark place this line of thought will carry us.”
To a place of getting out of the markets.