President Barack Obama Message Board

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Politics : President Barack Obama

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To: Road Walker who wrote (86449)	12/7/2010 8:10:31 PM
From: tejek	of 149317

Cramer chimes in. Oh, Obama By Jim Cramer RealMoney Columnist 12/7/2010 3:33 PM EST Ouch! The president has squandered it. He just took this incredibly positive compromise and turned it into a defeat. The market reeled from an astonishing development: He doesn't seem to know what it does to American business and growth, and only seems to know that he has to answer for why he "sold out to the rich." It was as if he didn't know what good he did and only knew what he had failed on -- because he is president for the less-well-off only. That kind of rhetoric is a killer for a market that looks at this package as a chance to really get the economy moving again, not as a sellout to those who are doing well. No wonder we sold off. Despite all that's good in the bill. Lots of people are asking why stocks aren't acting better. After listening to the president, I'll tell you why: We have someone who feels snookered because he didn't get only what the underprivileged needed. There were so many positives in this, and he let it all be defined by the tax breaks for the wealthy. Anyway, I found it stunning and self-defeating. I wanted to tell the guy to lighten up. He got something done that wasn't bad for the economy. But we are way too forgone for that. Pretty disappointing. Feels, also, like he opened the door to the whole thing collapsing ... which, of course, collapsed the market. With the back-up in rates and this president's uninspiring championship of something that is CLEARLY GOOD FOR BUSINESS, it is a wonder we aren't down much more.

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