When a President Dismisses Wall Street

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BARACK OBAMA, PRESIDENT OF THE UNITED STATES: What I'm looking at is not the day-to-day gyrations of the stock market.

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Well, who am I to start offering advice, Mr. President, but start looking at those gyrations, because they're bad gyrations, and they're more than day-to-day gyrations.

They're week-to-week, month-to-month, over many months. To be fair, Mr. President, they include you and a guy preceding you — preceding your big government solutions to your predecessor's big government solutions.

Apparently, Mr. President, the markets don't think much of big government solutions — rescues that don't rescue and bailouts that themselves need bailing out. Time and again, the same story.

You can ignore these gyrations all you want, Mr. President, but don't assume we are, because they're not just gyrations and they're not just some fat cat's money. They're our money: our pensions, our 401(k)s, our mutual funds — the stuff of which seven out of 10 of us stake our financial future.

So this isn't about Wall Street having a fit, Mr. President. This is about Main Street in fits because it is wondering why it is, our financial leaders have no faith in our political leaders and why our political leaders don't seem to care.

You may hope you can succeed despite Wall Street, forgetting, Mr. President, that you're only spiting Main Street, because history proves when you don't have their confidence you've all but lost ours.

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