Axelrod: This White House Won't Be Pushed Around By Market (VIDEO)

In an interview with the Washington Post's Lois Romano, David Axelrod, President Obama's Senior Adviser, acknowledged the "bumpy" rollout of the financial rescue plan but defended the package itself.

"Well, I think it was a bumpy rollout because Wall Street was hoping for a complete answer to some really complex and expensive problems, and what Secretary Geithner laid out didn't meet those expectations, but he laid out a strategy that we think is going to work," Axelrod said. "In the coming weeks, he'll lay out tactics to support that strategy, and people will know exactly what's expected of them and what our role will be as a government."

Romano brought up the stock market drop that followed Geithner's announcement. "We can't set our clock according to reactions on the market, we take a long-range view" of what's necessary, Axelrod replied. Romano asked whether a "one day drop and a one day story" can drive the White House. "It can drive a White House. It may not drive ours," Axelrod answered.

Watch:

Comments

[SOLERSO68]

Wow, imagine that. a long range plan. i hpe it catches on.

[miltonista]

Market = people with economic liberty

so... this white house won't be pushed around by people with economic liberty... great. ugh.

sounds like an authoritarian to me, way to go kos-kiddos­... elect us an authoritarian.

[SOLERSO68]

Market = people with economic liberty

so... this white house won't be pushed around by people with economic liberty.. = undistributed middle type fallacy. but to make up for your lack of accurate knowlege, and an ability to reason, like any common wingnut you are demagogueing that ol "liberty" chesnut.

gg.

[miltonista]

what is "undistributed middle type fallacy" ??

you can't deny that the market exists... they are a constituency just like any other... they happen to be a constituency that is objective with how the system works... I'd say these people are worth listening to instead of bullying around.

the white house bullying around this constituency will affect your livelihood­... wake up.

[blaharumph]

but the citizens will, like it or not.

[NewRiver]

RE: "We can't set our clock according to reactions on the market, we take a long-range view" of what's necessary, Axelrod replied.

No, but it would be a good idea to show some leadership on the issue, other than continually talking down the economy via the chicken little approach and then announcing that your Treasury Secretary would have a major speech outlining the new Administration's approach to TARP, toxic assets, etc., with absolutely NO specifics.

[jerrypl]

What is Axelrod talking about? Who is he trying to kid? This White House is being totally pushed around by the market, especially the financial big market players. More crap being dished out by the Demoservatives in the Obama campground.

http://eye-on-washington.blogspot.com

[loki]

Heck no they wont. They will be like all politicians, they will be pushed around by the money the marketers will push into their palms.

[SophieAmrain]

You hope that they will be like all others, yes? So you can sit in your comfortable bubble of cynicism.

[noneIn2008]

More like the White House is currently pushing the market. The current market is being manipulated by the White House. But the market is bigger than the Fed, so there will be heck to pay.

[soapington]

Heck to pay, eh? You sound like Butters.

[init]

I have a good impression of this man (Axelrod). And it's beyond wishful thinking.

[msblkwidow]

Thank you David Axelrod. You're absolutely right. Thank you

[FreeAmerica52]

That was the worst interview ever. And these are the uh guys who are uh running our uh uh uh country?

Lord help us.

[Gusto2]

FreeAmerica52, Did you asked the Lord for help during the last 8 years.?

[TheSpider]

FreeAmerica52 come on.

We just had Bush the last 8 years? "Uh uh uh" is a welcome relief.


Republicans for Obama.

[unite4change]

FreeAmerica52, I guess you are accustom to people who speak before they think or maybe you are just accustom to leaders, like George Bush who get the questions in advance.

[GeoLee]

the word is accustomed not accustom

[Obamacan]

Here's my tip to my fellow Huffposters'.
When the market hits a "bottom" buy. We may hit that tomorrow. By definition, when you bottom, you go up from there. Invest in what Obama wants to do for America and you will prosper. I have already recieved my "stimulus" check in the form of several thousand dollars in gains I have made in stock I purchased after Obama was elected. Bet on O, and see a dropped market as opportunity and you will make money. May the Trade be with you.

[carnelld]

I've noticed that lately the correlation between the Market and everything is touted.

This is a mistake. The market is a ponzi scheme. It goes up when it should go down and it goes down when it should go up.

Only the jerks get caught up in that system. The very rich like Madoff and all his investors make big bucks.

[norkas]

I have NOT owened stock in 30 years. That does not mean that stocks are bad but over the years the stock market has become a scam in many ways. I trust very little in the market and i watch it allot as do my friends who had invested in it.

There will be great companies in the very near future in the stock market but i hope that wall street does make such a big mess that these companies will be afraid to go ipo and make potential investers allot of money.

Here is a very nice trick to try. Ask any frind that works for a wall street firm what stocks there companies are touting for there clients to purchase then short them big time. First do this as a exercise without really shoring but pretending you did. Just watch the fortune you would of made.

Whiel big firms are telling there people to promote certain stocks there big high rollers are selling them so you will choke on them. This is not true in every case but look at the big picture.

[NewRiver]

If you have no stock, why do you watch it a lot? (as opposed to allot?) What companies would be afraid to issue public offerings? If their business is sound, they will draw investors. How many frinds do you have? Shorting at these levels would be stupid, unless you're looking to flip them for very short term profits.

Your post is nothing more than bad grammar and incoherent conspiracy theory. Tinfoil cap alert, aisle 9.

[past-caring]

Although I have money in the market, I say let the B!t($ crash and burn--after the self interest Wall Street has exhibited, it would suit them well.

Wall Street is not the real economy anyway. it's about time the street stops having so much sway over Everything that goes on.

[Arthur954]

"Wall Street is not the real economy anyway."

Of course it is not !!! let the f&$%"g thing burn ! it should serve the real economy of manufacturing and services by providing credit in a reasonable way, like in past decades.

WALL STREET IS NOT THE REAL ECONOMY ! f&%$ them ! it should be regulated down to zero. When are we going to hear about this ?

[NewRiver]

HINT: There is NO Wall Street anymore. Those firms all have filed for Bank Charters, so they can tap into the Federal Reserve.

[apoyo]

Screw Wall St.
It's full of Gordon Gekkos.

[constantlyamazed]

Hang in there Axe...peop­le think you guys should have had everything solved in 3 weeks when it has taken years for us to get in this mess. Hold the line, a lot of us are supporting you guys.

[Ermasdaughter]

I agree! Although I have to admit Geithner is making me nervous. I don't quiet trust that he's got the best interest of the people at heart. I think the idea of having someone run the treasury who knows where the bodies are buried is a bold move. But it's a gamble and I sincerely hope it pays off.