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The President says he doesn't pay much attention to Wall Street.
Good thing.
Because after a trading month like this one, he wouldn't want to.
Welcome, everybody, I’m Neil Cavuto, and here's the deal:
Stocks down more than 11% this month.
Despite a myriad of financial rescues, economic rescues, and lots of other rescues, nothing could rescue stocks.
It seems the more the government does, the more Wall Street rebels.
Today, taking a larger stake in a sick Citigroup (C), only to see the stock take a sick 39% tumble.
A familiar story.
The President gets stimulus.
The Dow tumbles.
The President proposes a financial rescue.
The Dow tumbles.
The President talks up regulatory reform.
The Dow tumbles.
And the President introduces what he calls a responsible budget.
The Dow irresponsibly doesn't go along...And tumbles some more.
More than a thousand points of tumbling since he became president.
More than two thousand points since he was elected president.
The President is right not to cater to these guys.
But that doesn't mean he should ignore these guys.
Or worse, blast these guys.
Some have sinned.
But don't act as if, and speak as if, and tax them as if, and scorn them as if, all have sinned.
Bill Clinton learned that if you win over Wall Street, you win over Main Street.
Because Wall Street "is" Main street and Main Street "is" Wall Street.
President Clinton got that.
I'm wondering whether this president even wants to.
Clearly, he doesn't talk like he does.
No wonder traders sell like they do.
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