POLITICS

Axelrod: This White House Won't Be Pushed Around By Market (VIDEO)

In an interview with the Washington Post's Lois Romano, David Axelrod, President Obama's Senior Adviser, acknowledged the "bumpy" rollout of the financial rescue plan but defended the package itself.

"Well, I think it was a bumpy rollout because Wall Street was hoping for a complete answer to some really complex and expensive problems, and what Secretary Geithner laid out didn't meet those expectations, but he laid out a strategy that we think is going to work," Axelrod said. "In the coming weeks, he'll lay out tactics to support that strategy, and people will know exactly what's expected of them and what our role will be as a government."

Romano brought up the stock market drop that followed Geithner's announcement. "We can't set our clock according to reactions on the market, we take a long-range view" of what's necessary, Axelrod replied. Romano asked whether a "one day drop and a one day story" can drive the White House. "It can drive a White House. It may not drive ours," Axelrod answered.

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