A Financial Speech While the Markets Are Open?

Whoa. Amateur night at the White House.

The White House is billing the President's mid-day speech today at Federal Hall in the belly of Wall Street as a "major" speech on financial reform. PR 101 says if you are president, you never give a major financial speech while the markets are open. If you say one thing that is negative for stocks, or misinterpreted as being negative toward stocks, the market starts to tank as the speech goes on, and that will be the headline.

Financial speeches should always be delivered at 6:00 PM or later.