Dear President-Elect Obama, We Need Specifics

by The Wall Street Geek on November 24, 2008 · 0 comments


I voted for President-elect Obama, and am one of many Americans waiting with anticipation for him to release his domestic and foreign agendas.

But this video left me empty. He says all that we “need” to do, but what about what we “will” do?

Noone is listening to Bush, and Obama has been gracious enough to let Bush be the only chief in the spotlight. However, this isn’t giving us clarity in who’s the one in charge. It’s giving us a leadership hole because–I repeat–noone is listening to Bush.

As a matter of fact, if you watch the Dow during Bush’s speeches, you’ll notice that the ones who _are_ listening are selling!

So President-Elect Obama got the same person who made the faux-President seal that got him flack during the elections, to make an Office of the President-Elect sign for his dais–from which he needs to roll out his cabinet and policy specifics ahead of his Jan 21st, 2009 inauguration.

We need specifics to bring confidence back to investors–not generalities. Specifics on healthcare, energy, education, the war, and other key issues.

Plus, who is going to run things? Investors are craving specifics. Did you see what happened late Friday when Tim Geithner was named Treasury Secretary? The Dow jumped 400+ points.

Obama can’t expect people to keep their money in the market when we don’t know what’s going to happen next. And I don’t believe he expects it–hence, the plans to announce more of his cabinet nominations on Monday, and the start of the weekly address to the nation.

I don’t envy you, President-Elect Obama. You’re like E.F. Hutton now–e.g., when you talk people will listen (remember those commercials?)

The irony here, however, is that E.F. Hutton became part of Citigroup, which is crumbling now….sigh…

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Price CapitalAfter turning $1100 into $7015 in the stock market right out of college, Michelle worked 15 years on Wall Street at Morgan Stanley, Citigroup and Goldman Sachs. She wrote "How to Buy Stocks Online", and is a fee only financial advisor providing investment help in New York City.

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