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It's not a State of the Union, but it could very well decide the state of his presidency.
Here's the deal:
This is big.
Very big.
Likely audience to rival his inauguration big.
That big.
That important.
And Barack Obama knows it.
Because anything he has said up to now hasn't worked.
It's not entirely his fault.
Markets are in a foul mood.
He gets his huge stimulus.
They respond with a huge sell off.
He proposes a daring financial rescue.
They respond with an equally daring dive.
He talks up fiscal responsibility.
They respond with a not so responsible freefall.
Such is life in market real time.
When what you say instantly registers with what these folks buy and sell.
And more often than not, they have opted to sell.
On every new initiative, every new appointment, every new promise.
Same old story.
It's a good thing the president is speaking tonight, long after markets have closed here.
Maybe more time for them to assess what he's up to here.
The president says he doesn't pay attention to markets.
Good thing.
But longer term, bad thing.
No less than Bill Clinton realized he had to win over their confidence.
As Bob Rubin told him...Win over Wall Street, you've got Main Street.
Well...Wall Street ain't impressed.
Tonight's your chance to try again...because Main Street's watching, too.
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