UPDATED: An Unsteady Executive Hand Can’t Stay at the Reins Too Long
So I was writing yesterday about how Obama’s lack of executive chops has become evident in the numerous appointment stumbles of the administration – and also in his poor reform salesmanship – and I thought there wouldn’t be anything more to add on that topic for a while, but the hits keep on coming:
- Politico (via Drudge): FBI raids office of D.C. CTO, Obama appointee.
- ABC News: Another Treasury pick withdraws (via Insty, who’s picked up on a clever observation on the dimming of Obama’s messianic glow).
And yet, the Dow is having a good day riding on a spate of good news. But is there something else fueling market optimism? The stock market looks forward. But Obama’s administration and the current news cycle has increasingly become all about looking back: retroactive buck-passing, shoddy vetting, demonizing media figures for views they have expressed and punishing the investor class simply for owning stocks; punishing Madoff and leaving government scofflaws like Dodd and Rangel untouched; and a negative reaction in Congress to Obama’s budget proposals.
As a result, Obama looks smaller and smaller vis a vis the challenges of our day. Does the market get the feeling that Obama’s plans won’t get too far in this environment? That 2010 will come and turn the tide? That Obama will be a one-termer? What are they betting on besides unexpected profits in the latest quarterly reports?
I only speculate, of course. Obama’s fortunes could turn around in a few weeks, maybe next month, but more and more people are realizing that the administration’s time is running out and that there’s a big “out to lunch” sign hanging from the White House’s front door at the most inconvenient of times. And you have to wonder. Does the future seem brighter to more and more Americans the more Obama’s messianic glow dims?
UPDATE: Now you tell us: What do you know? The crisis is not as bad as we think! (DIRE EMERGENCY CANCELLED, comments Drudge). I feel better already! (this is more of that poor salesmanship at work) Talk about unsteady!
MORE: Some related content (via Instapundit): Dan Riehl says the appointment problems are not that bad either; and Megan McCardle might agree.
ANOTHER ONE: Dan Riehl links. Thank you, Dan!
