July 30, 2010

Gearing Up for Obama to Address Congress, Economy

The President delivers the annual State of the...
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Everyone is looking for a plan. The market is looking for any sort of clarity. Obama looks like he is throwing test messages (shit) against the people (the wall) to see what sticks. Don’t get me wrong–this is a hard problem and a tough job to steer out of this mess. But, between Dodd, Giethner, and Bernanke there are too many confusing messages that everyone assumes are coming from the White House (or at least endorsed positions). I suspect tonight’s address to a joint session of Congress will help bring much need clarity:

Obama is scheduled to speak at 9 p.m. Eastern time at the Capitol to lay out his economic recovery plans and discuss the challenges ahead in trying to pull the nation out of its worst recession in decades while setting a course of greater fiscal discipline. His speech, with all the trappings of a State of the Union address, comes a day after a bipartisan “fiscal responsibility summit” at the White House and two days before the presentation of his first budget.

Press Secretary Gibbs made his rounds this morning testing messages for the evening address–I think he is a big part of President Obama‘s early communication issues. Time to replace him. Anyone else think this way?

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About Bill Rice
Bill Rice is a mortgage banking veteran operating in and writing about the mortgage market for over a decade. Bill is the founder of Kaleidico, which provides mortgage banking customers with lead generation and lead management solutions. Prior to Kaleidico, Bill was one of the founding executives of DeepGreen Bank, the first fully automated mortgage lending Internet banking platform and lead similar home equity innovations as the VP of National Home Equity at Quicken Loans. He can be contacted at bill.rice@kaleidico.com.

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