Bloomberg News, WSJ op-ed blame Obama for stock drop, ignore longer-term trend

Media Matters - Bloomberg News, WSJ op-ed blame Obama for stock drop, ignore longer-term trend:

"In a March 6 news article headline, Bloomberg referred to the 'Obama Bear Market,' and The Wall Street Journal ran an op-ed on the same day with the headline 'Obama's Radicalism is Killing the Dow.' In fact, the market has been on a decline since October 2007, and, as the Financial Times' Dan McCrum said, 'it's the economy which is driving the market down here' and that 'what's important is that President Obama doesn't try to address that in the short term. He's quite right that short-term market movements aren't -- shouldn't be driving government policy. What he needs to do is concentrate on fixing the economy, and the market will sort itself out.'In a March 6 news article headline, Bloomberg referred to the 'Obama Bear Market,' and The Wall Street Journal ran an op-ed on the same day with the headline 'Obama's Radicalism is Killing the Dow.' In fact, the market has been on a decline since October 2007, and, as the Financial Times' Dan McCrum said, 'it's the economy which is driving the market down here' and that 'what's important is that President Obama doesn't try to address that in the short term. He's quite right that short-term market movements aren't -- shouldn't be driving government policy. What he needs to do is concentrate on fixing the economy, and the market will sort itself out.'"