Wednesday, November 5, 2008

First Moves by President-Elect

President-elect Obama tapped Rep. Rahm Emanuel to serve as his White House Chief of Staff today. Rep. Emanuel also served under President Clinton.

Rep. Emanuel is certainly a "die-hard" partisan and is a hard-core liberal based on his voting record.

We will just have to wait and see if President-Elect Obama's other choices are as partisan, or if he is really going to reach across the aisle like he has said he would.

Wall Street did react today, though, to the election, and the reaction was not good. The drop was the largest post election drop in history. Is "the Street" betting on economic failure by the new President? Are they anticipating future economic disasters?

The good news is that gas prices are down. But, back in March, the Iranian government said that oil prices would be down in advance of the US Elections.

I guess we will just have to wait to see what tomorrow brings.


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