Today was the day that Wall Street was waiting for. Treasury Secretary Tim Geithner was supposed to unveil the Administration’s Financial Plan. Unfortunately he stated the opposite. Secretary Geithner discussed the gloomy state of our economy, a possible $2Trillion Bail out plan, and how bad our financial system is. He did not, as promised discuss a detailed recovery plan. As a result of this, the Dow Jones dropped 394 points, GM slashed 7,000 jobs world wide, and Wal-mart is laying off workers at their corporate head quarters.
I believe that the Treasury Secretary should have given a more detailed plan today. Our markets are starving for answers from the Administration. I agree with the President and his Economic Recovery Plan; however it is with the greatest urgency that we have a financial plan given to the American People as soon as possible. Homeowners are hurting and if they do not receive help soon, the economy will collapse.
I believe that the Treasury Secretary should have given a more detailed plan today. Our markets are starving for answers from the Administration. I agree with the President and his Economic Recovery Plan; however it is with the greatest urgency that we have a financial plan given to the American People as soon as possible. Homeowners are hurting and if they do not receive help soon, the economy will collapse.
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1 comment:
I think Geitner didn't give a more detailed plan because he just doesnt have one yet. Everything is probably theory and still being debated. Seems like he is operating in speculation and what if's. I am glad at least they are not rushing to throw money at the banks like they did the last time (at least no yet). LOL!
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