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Wall Street: The President Is Playing the Market

The president needs the Dow to get to 11,000 over the next year to keep from being routed in the mid-term election.
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Author of Newser.com's Off the Grid column

Author of Newser.com's Off the Grid column
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The stuff that was going on yesterday on Wall Street, on the first anniversary of the collapse of Lehman Brothers, might not have been what it seemed.

The president delivered what the Times called a stern message about the need for reform, at the same time the Times was also noting that the time for reform -- and the imperative to reform -- was also passing with a rising stock market.

So maybe we should cut to the chase: The president needs the Dow to get to 11,000 over the next year to keep from being routed in the mid-term election.

This is the most basic Clinton-era message: The only poll number that truly mattered was the Dow Jones Industrial Average. As the Dow rose so rose his popularity. Dollars to donuts, Barack Obama gets this, too.

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