Has Barack's presidency already failed?

Markets are not political--they give you an honest answer. Michael Barone:

A searing take on the Obama administration's financial plan, from Martin Wolf of the Financial Times. The Dow lost something like 5 percent of its value after Treasury Secretary Timothy Geithner's announcement of the administration's program; apparently the markets think like Wolf.

In case you missed Wolf the other day:

Has Barack Obama’s presidency already failed? In normal times, this would be a ludicrous question. But these are not normal times. They are times of great danger. Today, the new US administration can disown responsibility for its inheritance; tomorrow, it will own it. Today, it can offer solutions; tomorrow it will have become the problem. Today, it is in control of events; tomorrow, events will take control of it. Doing too little is now far riskier than doing too much. If he fails to act decisively, the president risks being overwhelmed, like his predecessor. The costs to the US and the world of another failed presidency do not bear contemplating.

What is needed? The answer is: focus and ferocity. If Mr Obama does not fix this crisis, all he hopes from his presidency will be lost. If he does, he can reshape the agenda. Hoping for the best is foolish. He should expect the worst and act accordingly.

Markets are down again today, still waiting for the Obama administration to act. Show trials before a feckless Dem Fannie-Freddie Congress don't cut it. I just googled Fannie-Freddie Congress and found this. Caroline Baum, Bloomberg thinks like me, "Just Imagine Pandit Questioning Barney Frank".