Today was the worst inauguration day performance in the Dow Jones Industrial Average’s history, according to Dow Jones. The Dow closed below 8,000 for the first time since Nov. 20 and had its largest daily point and percent drop since Dec. 1.
President Barack Obama in his inaugural address today spoke of the economic dilemmas he’s inheriting. Here are some highlights:
“The state of our economy calls for action: bold and swift.”
“This crisis has reminded us that without a watchful eye, the market can spin out of control. The nation cannot prosper long when it favors only the prosperous.”
“Our economy is badly weakened, a consequence of greed and irresponsibility on the part of some but also our collective failure to make hard choices and prepare the nation for a new age.”
The swearing in of Obama also comes with leadership change at the Commodity Futures Trading Commission (CFTC). Commissioner Michael Dunn was named acting chairman until Obama’s choice for CFTC chair, Gary Gensler, is confirmed by the Senate.
Tags: Barack Obama, CFTC, DJIA, economy, Gary Gensler, Michael Dunn
