I marveled at a recent letter suggesting that President Barack Obama was responsible for the stock market performance since the presidential election in 2008. As one who spent 40-plus years in the financial services industry, I feel compelled to set the record straight.
Markets are the result of how American corporations deal with providing goods or services fairly priced with a profit. Corporations must not only deal with what they can control, they also must deal with what is uncontrollable, such as an anti-business administration, excessive government regulations, world situations, interest rates, unions and competitors. All this while balancing their budgets. How well they do is reflected in the price of their shares on public exchanges.
We all wish this president and others would learn from the performance of American businesses, large and small.
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Hilton Head Island