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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