Another day, another Disaster in the Stock Market. This morning it was announced that Insurance “Giant” AIG will need another bailout to the tune of $30 Billion.
As i write this the Dow Jones Industrials are down below 7,000 for the first time in 12 years — off volume almost 3%. (At Market’s end at 4pm EST it was of 299 points.)
A year ago this was disaster for the Stock Market. Today, it’s just another dip. We get used to this stuff.
Not that this is bothering the Obama’s; they’re too busy partying it up in the White House:
WASHINGTON (AP) – The White House is the place to be on Wednesdays.
The stately East Room, where portraits of George and Martha Washington adorn the walls, was transformed into a concert hall as President Barack Obama presented Stevie Wonder with the nation’s highest award for pop music on Wednesday.
A week before that, the foot-stomping sounds of Sweet Honey in the Rock, a female a cappella group, filled the East Room for a Black History Month program first lady Michelle Obama held for nearly 200 sixth- and seventh-graders from around the city.
Cocktails were sipped during at least three such receptions to date, all held on Wednesdays.
Bookending the midweek activity were a Super Bowl party for select Democratic and Republican lawmakers and a dinner for governors, the new administration’s first black-tie affair. It was capped with a performance by the 1970s pop group Earth, Wind and Fire. And a conga line.
The flurry of entertaining is in keeping with the Obamas’ promise to make the White House a more open place for everyone.
The governors’ dinner was “a great kickoff of what we hope will be an atmosphere here in the White House that is welcoming and that reminds everybody that this is the people’s house,” Obama told the state chief executives after they had dined on Maryland crab, Wagyu beef, Nantucket scallops and citrus salad.
At the dinner in the State Dining Room, the Obamas looked comfortable, chatting and smiling with their guests. Afterward, they escorted the governors down the hall to the East Room, which had been arranged with few tables and chairs to encourage dancing to “September,” “Boogie Wonderland” and other hits from a musical group Obama listened to growing up.
The conga line formed after the media were escorted out and, apparently, after Obama had called it a night.
“Thank you also for waiting until I had left before you started the conga line,” the president told the governors the next morning. “I hear it was quite a spectacle.”
Some Obama guests say he immediately puts them at ease. He indulges them and serves cookies, too.
Oh, well then — thank God there are cookies being served. It was starting to sound like wanton debauchery until the cookies were served.
On the other hand, if we’re talking about national Socialism, perhaps this is more appropriate: