We're Off to the Races

We start 2010, the year I believe that will be studied in future textbooks as a pivotal year in American history. We’ve already witnessed an election for the ages in Massachusetts, a political attack on the “too big to fail banks,” and 650,000 new people in one week applying for emergency unemployment compensation. (Current total 5.6 million people.) If President Obama is sincere and is able to deliver on the promise of shutting down Federal Reserve assisted proprietary trading by commercial banks, it will go a long way in reducing the risk of another financial meltdown. However, the unintended consequence could be a stock market collapse, since the main support and driving force arguably has been the prop desk. I don’t mind if the banks want to take risk, just not with our taxpayer money. Let’s see if Obama can deliver, or if it’s just another in a long-line of sound bites. Regardless, the die is cast, the stock market’s direction has been foretold, and 2010 starts with a bang, not a whimper.

Till next time,

Bill


>>>>>>>>>>>>>>>>>>>>>

A disclaimer: None of the content published on billtatro.com constitutes a recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. None of the information providers or their affiliates will advise you personally concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. To the extent any of the content published as part of BillTatro.com may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.