re: #498 3 wood

Good morning.

The market, and especially the financial sector got pounded again yesterday, down about 4%. It was the worst drop ever in history on inauguration day.

The reasons for the massive drop are that the investors became convinced that Obama will completely nationalize the banks (thus wiping out owners equity in those firms) and Pelosi ran her mouth over the weekend, privately vowing to raise capital gains taxes, thus wiping out any earnings for investors.

President Obama is now on the clock and has about 48 hours to come out with a clear statement of what he is going to do about all this.

But, get ready for a bunch of Executive Orders today addressing the left wing agenda issues like closing GITMO and stem cell research.

Look for the MSM to write articles today kicking Bush some more.

And the economy continues to deteriorate…….

Once again 3wood thanks for the great news/