Wall Street to GOP: Drop Dead

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Kerensa of NM 2:58PM May 14, 2009

Wall Street was already backing the other side with over 70% of individual donations going their way before McCain came along according to the Huffington Post. The reason? The other side can be bought as Fannie and Freddie proved.
After all, it's less expensive to buy a senator than to buy market share. The cheapest way to corner the market is to corrupt a few congressmen. If you want to use a little Wall Street "walking around money" to tilt the playing field in your direction you approach the people who can be bought, who lack guilding principles beyond the puruit of power and prestige.
Remember, most Wall Street companies do not design, create, buy, build, hold, distribute, or sell anything but money. They're experts at moving money around. They can create derivatives, but can they create real value?
Ironically, this makes Wall Street a lot like Washington. The government doesn't design, create, buy, build, hold, distribute, or sell anything either. It merely moves money around too, albeit far less efficiently than Wall Street.
Yes, the provision of capital is important, but it is not the same as putting products on the street, gas in the tank, or bread on the table. Wall Street firms are like leeches on American enterprise that have grown overly large as they suck the blood out of companies and the economy. They are run by smart people who know everything about finance and little about the hard work of real business. They think short term, no longer than the next quarter, which results in short time horizons in corporate board rooms. It's not surprising they haven't puzzled through the likely long term impact of propping up left wing politicians financially.
The people I've met on Wall Street are very much like the liberals I've met in academia. They're bright. They're out of touch. They're naive about the way the real world works. They think they know more than anyone else.
Of course Wall Street supports the left.

A Main Street CEO of TX 9:20AM October 15, 2008

7 years of a republican presidency and 12 years of a republican Congress has devastated the country.
Knucklehead economics is showing its worth and looking for scapegoats. Wall Street is not drinking McCain's kool-aid anymore, especially as he put them in the driver's seat to plow the financial sector into the ditch it's in now - and to take the fall.

Paul of WA 2:32AM October 15, 2008

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Joey of TX 10:54PM October 14, 2008

True, Huckabee has had harsh words about Wall Street and - more recently - the bailout, but would he be "losing the tax issue to his Democratic opponent"?
Imagine a tax policy that would address the credit crisis by eliminating all federal capital gains and dividends taxes, encouraging personal investment and savings, eliminating the tax disadvantages that keep billions offshore and many businesses overseas, and discouraging personal financial over-extension. It's called the FairTax.

Jeff Mobley of SC 3:10PM October 14, 2008

Wall Street will do okay no matter what the outcome of the election. We also have the best government that money can buy. Wall Street can buy all the favorable legislation they need to survive and prosper. In a few weeks Wall Street won't even have to use their own money to buy government favors, they will now have tons of tax dollars to use for that.

SoCalCooCoo of CA 2:37PM October 14, 2008

To paraphrase Churchill:
McCain had the choice between losing the election, and losing his honor. And he chose both.

Tom of TX 1:46PM October 14, 2008

Their running out of targets to blame to shoot down
Do the American voters want such a person in the White House with a six pack aday..pistel packing..MOMMA??(vp)
R Jones
San Mateo, CA.

of CA 12:19PM October 14, 2008

No, you can't be for the investor class while bashing Wall Street at the same time. But is Wall Street noticing that the other side is attacking them even more?

bdaniel of TX 11:44AM October 14, 2008