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"A smidgen of good news and suddenly everything is doing great; a little bit of bad news and--Oh!--we are down in the dumps," thus NBC White House correspondent Savannah Guthrie quoted President Barack Obama's sardonic complaint about economic indicators being used as a barometer of his performance even as ABC's Betsy Stark was asked by anchor Charles Gibson to examine fluctuations in the stock market as a barometer for the health of the economy. A rise of 700 points in three days on the Dow Jones Industrial Average "really is classic bear market rally," she warned. "Maybe at least things have stopped getting worse."
Treasury Secretary Timothy Geithner was on Capitol Hill for his seventh session of Congressional testimony. ABC's Jonathan Karl gave us a blow-by-blow…"hammered hardest by Republicans"…"Geithner pushed back hard"…"he got an earful"…"seemed more interested in berating him than in listening to his answers"…"almost two hours of grilling." Karl came away impressed: "For all the anger and frustration over the financial bailout, today he held his own, earning grudging admiration from several senators, including the top Republican on the committee."
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