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Wall Street Investing Twice as much in Obama as McCain

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posted on Jul, 1 2008 @ 08:30 AM
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Wall Street Investing Twice as much in Obama as McCain


www.nydailynews.com

Wall Street is investing heavily in Barack Obama.

Although the Democratic presidential hopeful has vowed to raise capital gains and corporate taxes, financial industry bigs have contributed almost twice as much to Obama as to GOP rival John McCain, a Daily News analysis of campaign records shows.

"Wall Street wants change and wants a curtailment in spending. It wants someone who focuses on the domestic economy," said Jim Cramer, the boisterous host of CNBC's "Mad Money."

Cramer also does not discount nostalgia for the go-go 1990s, when Bill Clinton led the largest economic expansion in history.

"It wants a Clinton like in 1992, but not a Hillary Clinton," he said. "That's Barack Obama."
(visit the link for the full news article)




posted on Jul, 1 2008 @ 08:30 AM
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This is why Obama is going to be the next president.

And for all who think he is a socialist I ask, if he is why would capitalist Wall Street be bankrolling him over McCain?

www.nydailynews.com
(visit the link for the full news article)



posted on Jul, 1 2008 @ 09:35 AM
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Originally posted by grover
And for all who think he is a socialist I ask, if he is why would capitalist Wall Street be bankrolling him over McCain?


I believe the answer is in the article.


"Wall Street wants change and wants a curtailment in spending. It wants someone who focuses on the domestic economy," said Jim Cramer, the boisterous host of CNBC's "Mad Money."


Now if you want to believe that's the reason or not, that's another thing.



posted on Jul, 1 2008 @ 09:45 AM
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Well since the status quo as represented by Wall street is not about to back anyone who is a serious risk to their interests, and given no one can get as far as Obama has without their approval, then that should put to rest the claim that he's a socialist.

Of course it won't.



posted on Jul, 1 2008 @ 09:49 AM
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reply to post by grover
 


perhaps the ceo's on wall street perceive that obama would win the election anyway regardless of whether they help finance him or not but if they do contribute they might think that they can control him somewhat?
we helped you now you owe us 1 ?
the last supervisor i was stuck with operated a similar way?he wanted everyone to ask him for a favor or for some government property which he would steal for them so that when the time came that he wanted something that they had access to but he didn't,he could ask them to steal for him.
so far from what i have read ,obama has plans to raise taxes and spend money but i see nothing to indicate how he plans to invigorate the economy to generate the money he wants to spend.i imagine wall street is nervous about the future of their?money and buisness.



posted on Jul, 1 2008 @ 09:50 AM
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reply to post by danx
 


I'm not sure if I agree with him on that. If anything, the financial markets usually want stability over all else. If they believe that Barack Obama can bring an end to the war in Iraq and return the US to a peacetime setting, I think that explains their support better than anything else. Fiscal benefits of such an act are merely an indirect consequence.


[edit on 1-7-2008 by vor78]



posted on Jul, 1 2008 @ 09:52 AM
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I think that what investors are looking if for a period of stability, and Obama it seems to me for now that he is the one that investors are confident that can bring stability not only to the local economy but also on foreign politics, ironically Obama has been campaigning on raising taxes to the rich, windfall profits tax, repealling the Bush tax cuts and on and on....



posted on Jul, 1 2008 @ 10:01 AM
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Originally posted by grover
Well since the status quo as represented by Wall street is not about to back anyone who is a serious risk to their interests


And their interest is only to make money and have huge profits, and if the people can't afford to buy their s* they don't make money.

The Iraq War has bankrupted this country and perhaps created a deficit the US won't be able to get out from for a long time, and the economy is hurting. When the economy is bad, people can't and don't spend as much.

Since McCain is openly for more Iraq, it seems pretty obvious to me Wall Street would turn to a candidate that (says he) won't continue that policy.

vor78: That is the (supposed) reason I understand from the article.



posted on Jul, 1 2008 @ 10:04 AM
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Originally posted by yahn goodey
perhaps the ceo's on wall street perceive that obama would win the election anyway regardless of whether they help finance him or not but if they do contribute they might think that they can control him somewhat?
we helped you now you owe us 1 ?


Sort of like now what we are experiencing with the Oil Companies and President Bush.

Well, we asked for it, and we got it.....



posted on Jul, 1 2008 @ 04:24 PM
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Originally posted by grover


This is why Obama is going to be the next president.

And for all who think he is a socialist I ask, if he is why would capitalist Wall Street be bankrolling him over McCain?

www.nydailynews.com
(visit the link for the full news article)


Most people on Wall Street are democrats.



posted on Jul, 1 2008 @ 04:28 PM
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Originally posted by yellowcard


Most people on Wall Street are democrats.


You may very well be right, but could you provide some evidence for that broad brush statement.

My research show a fairly even split.

money.cnn.com...

[edit on 1-7-2008 by whaaa]



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