Stock Market Gains Again; Obama Names Volcker to Advisory Board

Before the market closed for a one-day Thanksgiving break, the Dow was up 247 points, a 2.91% gain. Over four sessions, the Dow rose almost 1,200 points, which CNBC says is "its biggest four-day point gain ever and best four-day percentage gain since 1932." The Nasdaq and S&P 500 went up 4.6% and 3.53% respectively. Today was also the third day that President-elect Barack Obama held a press conference to discuss his economic team. He named former Fed Chairman Paul Volcker to head an economic advisory committee, noting his experience with inflation during the 1980, "Paul has served under both Republicans and Democrats and is held in the highest esteem for his sound and independent judgment." The NY Times explains that Volcker will head the new Economic Recovery Advisory Board, which will "advise Mr. Obama on how to jump-start the economy and stabilize the financial markets."

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By Jen Chung in News on November 26, 2008 6:16 PM

Comments [rss]

Bottomless Chips

How about putting people who are actually competant in positions of power, and being able to talk to the American people & media w/o sounding like a useless redneck for starters, unlike the Worst President in US History.

Geithner is change??!?!? He was the one who helped orchestrate all of these bailouts.

r1b2

The market run-up is all short-term. More money to bail out Citi, and more to support credit, but then what? Artificial price increase due to short-covers before hloiday. We'll be back down again soon enough.

jterry121

Vikram Pandit. But instead of wasting my time, or being delusional enough to play "Micromanage Obama" I'm just going to say every single person The Worst President in History has ever appointed has fucked this country up beyond recognition and deserves to burn in hell.

Happy Turkey Day!

EastRiver

How about putting people who are actually competant in positions of power

We could on and on but how about starting with this: If Rubin is so "competent" why is Citibank in so much trouble?

jterry121

How about putting people who are actually competant in positions of power, and being able to talk to the American people & media w/o sounding like a useless redneck for starters, unlike the Worst President in US History.

PS- hows Tom Brady enjoying early RETIREMENT?

Shinobi Shaw

#5 don't bother, you can't reason with fanatical Obamatoids, and this is coming from a libertarian who adheres to 3rd parties.

Bottomless Chips

Barack has done more for the economy in the past week than The Worst President in American History has done in the past 8 years.

Wow. Really? Please elaborate on what he's done that would be any different than Bush?

Steven

Too bad Bush is still the president for the next month and half.

jterry121

Barack has done more for the economy in the past week than The Worst President in American History has done in the past 8 years.

FranklinBluth

Here's a good article about the people who got us into the mess being appointed to get us out of the mess:

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/25/ED8114C8PU.DTL

NannyState

It's getting to be like the Carol Burnett Show with these former stars doing some kind of Holiday Clinton Administration medley. Do we get a Monica Lewinsky cameo as "the little whore that makes Barack and Michelle's marriage stronger"?