Conservatives parrot claim that Obama is bad for Wall Street

[democracy1st]

Run time: 00:36 https://www.youtube.com/watch?v=R56ZUMA9KMY   Posted on YouTube: August 15, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: August 16, 2008 By DU Member: democracy1st Views on DU: 679

 
Conservatives Claim Obama Is ‘So Bad For The Economy,’ While Wall Street Donates More To Obama»
Conservatives have been trying to frighten investors about the prospects of a Barack Obama presidency. Larry Kudlow wrote, “Wall Street, beware,” while The Street’s Richard Moore suggested “that the market seems to do better when Barack Obama is having problems.” Michael Pento of Delta Global Advisers claimed another Depression is “where we’re headed” if Obama’s economic plans are adopted.

Wall Street however, disagrees, and is donating more to Obama’s campaign than to the campaign of Sen. John McCain (R-AZ).

Bloomberg reports that Obama “has captured $9.6 million in donations from employees working for securities, mortgage and drug companies, compared with McCain’s $6.6 million.” From “brokers, bankers and traders in the securities industry” Obama has gathered $8.9 million to McCain’s $6.3 million, and “their support comes even as Obama seeks higher taxes for wealthy Americans.” Workers in the mortgage industry, meanwhile, “gave $278,937 to Obama and $133,475 to McCain.”

In 2004, all of these industries donated more to President Bush than they did to Sen. John Kerry (D-MA). Yet by rejecting McCain, Wall Street is showing its dissatisfaction with the past eight years of Bush’s presidency, which saw skyrocketing deficits and financial crises. Perhaps they also want to make sure that benefits are dispersed throughout the economy, rather than given to just the wealthiest Americans.

However, there are some industries with which McCain is more popular. Bloomberg notes that the oil and gas industries gave their “million dollar maverick” McCain “four times the amount” that they’ve given Obama.
http://thinkprogress.org/2008/08/15/wall-street-obama/

[TomClash]

1. Depends on who you talk to on Wall Street

CEO and upper management types seem to be mostly for McCain. Mid-level managers and the rank and file seem to be mostly for Barack.

[DFW]

2. Wall Street is struggling like crazy to maintain levels it was at when Clinton left office

And their top people want more of that? The rank and file seems to know better.

I guess it's true...if you want to live like a Republican, vote for a Democrat.

[CitizenPatriot]

3. and the Repukes have been so great for wall street

umm...yeah.

not so much.

All of this talk of higher taxes for the wealthiest strikes me as much ado about nothing as I used the calculator provided by some tax comparison and people making 150-250 k were going to pay like 1k more or so. big deal? Not so much. That's a few nights at a high end spa. People who like to consider themselves a part of that elite prattle on about socialism, etc -- and yet, when you do the numbers, it is practically insignificant to them. Sure, the higher levels will feel it, but they should, as they have been paying less than they have percentage wise since the depression. These 150-250 people are also the smug who tell you they don't feel the gas price hike or the grocery store price hikes....you can't have it both ways.

GOBAMA