Defending his Wall Street “reform”, Obama attacked Republicans by saying that their ideas have been tried and failed. He did not mention that Democrats now control the House, Senate and White House and that the numbers to be released Friday will likely show a rise in unemployment (now that all his little Census workers have been released).
Meanwhile, the market fell again, extending the first quarterly drop in the S&P 500 Index in more than a year.
The S&P 500 fell 1 percent to 1,030.71 at 4 p.m. in New York. It has declined 12 percent since March 31, breaking a four-quarter winning streak that drove the benchmark index for U.S. stocks up 47 percent. The Dow decreased 96.28 points, or 1 percent, to 9,774.02 today, giving it a second-quarter decrease of 10 percent. The Nasdaq-100 Index, which gets 63 percent of its value from technology companies, slumped for an eighth straight day, the longest stretch of losses since 2006.