As Dow Swings, Obama To Come Out Against Audit the Fed Today

The Dow is swinging wildly–down as much as 980 points within the last hour–largely due to insecurity about the situation in Greece and shaky retail sales. And according to Brad DeLong, who is generally pretty tight with the White House, Obama will come out in opposition to Audit the Fed this afternoon.

At a time when confidence in the markets desperately needs shoring up, the President should be looking to instill confidence in investors by supporting accountability and transparency within the financial system — not acting to shield the banks.'

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Or in the words of Mike Rivero

BINGO! The drop on the DOW was Bernanke's reminder to the White House that the Fed and not DC actually runs the nation.


Time to pull all your money out of the bank, RIGHT NOW!