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Wall St.'s (scripted) love-hate relationship with Obama/Geithner

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posted on Mar, 24 2009 @ 05:10 AM

When the Obama administration outlined its plans to stabilize the banking system last month, leery investors panned the proposal as being short on substance and sent stock markets into a tailspin. But investors went on a buying binge Monday as the administration announced details of its banking rescue plan, hoisting the markets more than 6 percent in one of the biggest buying binges of the year.

"This is the free-money rally," said Barry Ritholtz, chief executive of Fusion IQ, an investment and research firm. "Traders like the fact that there's a boatload of cash headed their way."

"This is the bottom," said James W. Paulsen, chief investment strategist at Wells Capital Management.

Wall St. disapproved on February 9th (10th, actually), Wall St. approves today. It's all for show. Even a retard should be able to tell.

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