Senate Majority Leader Harry Reid (D-Nev.) said on Monday that the banking industry is “very close” to being stabilized and the nation's economy is starting to rebound.What could possibly lead him to believe this? It's obvious that Wall Street, which is a vastly better indicator of future economic performance, does not concur.
“We tend to talk about the negative....Things are beginning to turn and I think the American people are going to feel that very soon,” Reid said during an appearance on MSNBC's “Morning Joe” show.
Reid’s comments contrast with recent remarks of President Obama, who has repeatedly said the economy will get worse before it gets better.
Reid said, “We're getting very close to stabilizing the banking industry.” He added that he's traveled around the country last week and been impressed with what he's seen, noting he was in Dallas to see firsthand what AT&T has invested in broadband technology.
Monday, February 23, 2009
Oh I feel better now, do you?
Posted by traderrob at 5:08 AM