• [WEBCAST] Raoul Pal & Neil Howe: A Sobering U.S. Economic Reality Check

    Prepare your portfolio for “big picture” paradigm shifts with Real Vision co-founder Raoul Pal and Demography analyst Neil Howe. Watch the replay from this webcast.

This is more of the same because Geithner and Volcker signalled the same in their hearings earlier in the week - but Team Obama is definitely pushing out expectations re the duration of the bailout (see what our friends at Street Account are confiming below). The market rallied a bit on this hitting the tape, but I think you do the opposite - sell any bounce, until we stress test that 800 line in the SP500.
KM

1/23/2009 10:02:57 AM President Obama says on target for goal of approving economic rescue package by mid-February -- wires