Babylon Translator Download

translator

Saturday, February 14, 2009

Impatient investors want to know the specifics of what Team Obama is cooking up

Wall Street: Devil is in the details
Impatient investors want to know the specifics of what Team Obama is cooking up to soften the blow of the recession. The week ahead brings several opportunities.


NEW YORK (CNNMoney.com) -- A lack of clear communication between the government and Wall Street last week left investors scratching their heads and dumping their stocks. The week ahead brings a chance for a rapprochement.
President Obama is expected to sign into law Monday the much debated $787 billion economic stimulus package. Obama and his team are also expected to outline specifically why the plan will help soften the blow of the recession when other government efforts over the last year have had little impact.
The plan combines tax relief, aid and spending, and was passed in both the House of Representatives and the Senate last week with very little Republican support. (Full story)
Later in the week, Obama is expected to provide details on the administration's plan to modify home loans in a bid to limit foreclosures.
"We need specifics," said Joe Arnold, wealth manager at Dawson Wealth Management. "The market is back down near the November lows because we don't know specifically how and when these plans are going to have an impact."

No comments: