BlueBloggin

After last nights big upset in both parties, it’s not surprising that Wall Street doesn’t like what they see; after all Obama and Huckabee where not the choice of the power brokers. These guys had their wallets on Clinton and Giuliani. Actually I can give a crap what Wall Street thinks they are the power brokers and money machines that have aided in the corruption of Washington and love the statues quo.

Iowans in both parties shook up the establishment; they proved the pundits and Washington insiders wrong. The biggest shake up is Iowans sent a very strong message that the corporate elite and that the statues quo is over.

So it’s no wonder that Wall Street is more than a little bothered that Clinton came in so low and Giuliani didn’t even place. Clinton is the corporate queen and the military complex democrat and Wall Street didn’t mind if she took the White House. As for Giuliani goes he’s just fine for Wall Street, republicans are very friendly to corporation. A Clinton or Giuliani White House would mean more money and power for Wall Street.

WASHINGTON (Reuters) – Wall Street gave a passing glance on Friday to the U.S. presidential election kickoff in Iowa, and didn’t particularly like what it saw from Republican winner Mike Huckabee or top Democrat Barack Obama.

Financial markets typically feel more comfortable with Republicans in power because they are generally more friendly to business on such issues as taxes and regulation. Huckabee, a Baptist preacher and former Arkansas governor, doesn’t fit that mold.

“The scary thing about it for me is that he seems like a right-wing populist,” said Charles Biderman, chief executive of Trim Tabs Investment Research in Santa Rosa, California. “I’m not sure what his economic platform is and who his economic supporters (are). We know who’s backing Hillary (Clinton) and who is backing (Rudy) Giuliani. Huckabee is an unknown.“Wall Street likes to know what it’s dealing with, and its bets were on Clinton and Giuliani — frontrunners in national polls going into Iowa — to eventually win the nominations.

The concern with Obama’s victory was that polls show him as more electable than Clinton in November, raising investors’ fears that Democrats would end up controlling both Congress and the White House.

“An Obama presidency would be the worst outcome because every Democratic legislation … will sail right through, including big regulatory plans and the like,” said Chip Hanlon, president of Delta Global Advisors Inc in Huntington Beach, California.

Posted by nytexan January 4th, 2008 | Category: Clinton, Election, Giuliani, Huckabee, Obama, Politics, primary | Subscribe to comments | Leave a comment | Trackback URL