- Market Commentary -

January 28, 2010 (FinancialWire) (By Bob Farley) — President Barack Obama did about a good a job taking the high road on the issues facing the country, including the contentiousness brought about by the AIG (NYSE: AIG) and other big bank bailouts. His first standing ovation came when he opined that he wanted to give those banks a tax to help them pay back the Joe and Josie Publics who bailed their butts out in the first place.

The president seemed to hit every issue, from health care to Haiti, but the main point was jobs. Health care didn’t make the subject till 30 minutes into the speech. To that crippled subject, President Obama said “Let’s get it done.” His cheerleading was good, almost convincing.

Getting anything done–from health care to employment–goes to Congress for action, much as cheerleaders depend on the football team to score the points. Does this team have the ability to get’er done?

It’s politics. What do you think?

[Go to http://www.financialwire.net/?s=bob+farley to see more commentaries and articles by Bob Farley.]

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The FirstAlert(tm) Economics Calendar lists Durable Goods Orders for December (8:30 a.m.), Initial Jobless Claims (8:30 a.m.), Treasury auctions 7-year notes (1 p.m.).

The FirstAlert(tm) Events Calendar showcases CHDN, MNTG, FLL at Bank of America Merrill Lynch Gaming Conference.

FirstAlert(tm) Website of the Day: http://www.eyewitnesstohistory.com/stanley.htm

Quote of the Day: “When I was young, I used to have successes with women because I was young. Now I have successes with women because I am old. Middle age was the hardest part.” Artur Rubenstein

Today is: the day before Freethinkers Day.

Happy Birthday: King Henry VII of England, Giovanni Alfonso Borelli, Henry Morton Stanley, Artur Rubenstein, Jackson Pollock, Alan Alda, Mikhail Baryshnikov, Sam Phillips, Sarah McLachlan.

Today in History: Diet of Worms began in 1521 and lasted until May 25. Henry VIII died in 1547, making his nine year old son, Edward VI, the first Protestant ruler of England. Horace Walpole, in a 1754 letter to Horace Mann, coined the word serendipity. Pride and Prejudice was first published in the United Kingdom in 1813. A Russian expedition in 1820 led by Fabian Gottlieb von Bellingshausen and Mikhail Petrovich Lazarev discovered the Antarctic continent. The first locomotive ran from the Atlantic to the Pacific on the Panama Railway in 1855. Yale Daily News became in 1878 the first daily, college newspaper in the United States. The Carnegie Institution was founded in 1902 in Washington, DC with a $10 million gift from Andrew Carnegie. An act of the U.S. Congress created the United States Coast Guard in 1915. Municipally owned streetcars took to the streets of San Francisco in 1917. The name Pakistan was coined in 1933 by Choudhary Rehmat Ali Khan and was accepted by the Indian Muslims who then adopted it for the Pakistan Movement seeking independence. In 1986, Space Shuttle Challenger broke apart 73 seconds after liftoff killing all seven astronauts onboard.

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