Jack Welch says TARP is working, scolds Obama

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The U.S. government's Troubled Asset Relief Program is working to restore financial confidence and the economy's rapid decline may be ending, said Jack Welch, former chairman and CEO of General Electric Co.

It calmed the market and stabilized the system, Welch said at the Global Business Forum at the University of Miami on Friday.

Welch, 74, who built GE's market value to $400 billion from from $13 billion as CEO from 1981 to 2001, said he sees signs the real economy, not the financial economy, is not accelerating downward.

...

He advised Obama to temper his remarks about the economy. "He has to stop protecting himself by saying it will get worse before it gets better," said Welch. "This country needs a boost and every time he goes on television and talks about how bad its going to get, people are looking for someone to take us out of this."

http://www.connpost.com/ci_11479374

[Pooky 3,929]

There's a fine line the new President is walking, preparing people for the possibility things will get worse and actually making things worse. Let's just hope he has a head for heights, 'cos it's a long way to fall if he doesn't.

[luckytxn 2,265]

Obama wants this stimulus bill badly. He won't get it unless he can convince them it is needed. I doubt him saying we are in good shape will get that stimulus package passed.

[Teacher Mark 53]

Jack Welch huh? If he would invest his retirement portfolio in T Bonds our problems would be solved.