Obama the Stock Analyst
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Your Daily Profit


March 4, 2009


*****Obama the Stock Analyst

*****24% Gains


Fellow investor,


President Obama said stocks look like a good buy here, if you have a long term perspective. Thanks for that, I feel much better now.


*****As much time as Fed Chief Bernanke spends before Congress, it’s amazing he gets any work done.


I have to say, I’m starting to like Bernanke. His forthright talk is certainly a refreshing change from Greenspan’s garbled speech. Yesterday, he expressed his feelings about all the bailouts. From Bloomberg:


“If there is a single episode in this entire 18 months that has made me more angry, I can’t think of one other than AIG,” Bernanke said. “AIG exploited a huge gap in the regulatory system, there was no oversight of the financial-products division, this was a hedge fund basically that was attached to a large and stable insurance company.”


AIG “made huge numbers of irresponsible bets, took huge losses, there was no regulatory oversight because there was a gap in the system,” Bernanke said. At the same time, officials “had no choice but to try and stabilize the system” by aiding the firm.


If I were former AIG CEO Hank Greenberg, I’d be nervous. And I think he is. He’s suing AIG for misrepresenting its health, even though he was CEO until 2005. And he’s suing to keep his testimony about the off-balance sheet mess that led to his dismissal by the Board of Directors.


*****Stocks are finally showing some life today. Let’s hope it holds.


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As always, I’d love to hear from you. Got any thoughts on “Obama the stock analyst”? An opinion on AIG? Or just want to catch up? Drop me a line at [email protected].


Ian Wyatt


Daily Profit


Posted 03-04-2009 10:19 AM by Ian Wyatt