Wednesday, February 18, 2009

Investors wait in worry for Obama's housing plan

President I Screwed Up has already done the impossible: he has made matters worse in the economic recession.

As he signed his economic stimulus plan yesterday that was more spending for what critics call eight years of Democratic frustration, the stock market dropped another 70 points to finish down another 300 points. Analysts now see the market dropping below lows set last fall.

Last night, former Fed Chairman Alan Greenspan said the housing crisis of massive foreclosures must be resolved before the economy will rebound. And today, Obama is to unveil of housing rescue plan.

The problem is that his bank rescue plan released last week was so vague and without detail that the market fell 400 points.

As critics have complained, these guys have been working on these problems since Obama was elected Nov. 4. Why no details?

So Obama's housing plan to be unveiled today is being awaited with dread, not the hope he promised to bring to this nation.

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