Yesterday during his news conference, President elect Obama was asked why he is appointing so many insiders to his administration when he campaigned on change. His answer is very strong and confident and reveals that ultimately Obama's gravitas comes from the president himself. This week has been all about just that providing the sense of confidence by adding big gun after big gun to the administrations "Brain Trust". This strategy, modeled after Roosevelt and which reveals an understanding of the irrational nature of the markets, appears to be working.
6 hours ago