From Reuters courtesy of Hot Air:
"My personal opinion is I would argue that McCain is probably the better candidate for the economy and that is more or less because of his tax policies," James Caron, head of global rates research at investment bank Morgan Stanley in New York, said at the Reuters Summit this week.
"In this environment that we're in right now, the last thing you want to have is higher taxes and taking money out of the consumers' pockets," he added.
But that doesn't mean they think McCain will win.
Wall Street may like McCain but it is betting on the Democratic senator from Illinois.
The securities and investment industry has given more campaign contributions to Obama than any other candidate, totaling nearly $7.91 million and exceeding McCain's $4.15 million.
And Corporate America as a whole likes the Democrats.
For the first time in a generation, most major U.S. business sectors are donating more campaign money to Democrats than to Republicans, according to a political fund-raising watchdog group.
Businesses donate most to those who they expect to be in the position to cause or prevent trouble for them. It's another bleak sign of the times when Wall Street is betting on Democrats, and it makes you wonder just how bad the financial situation is for GOP candidates nationwide. This quote shows that the economy is yet another issue that McCain couldn't capitalize on as much a less maverick-y Republican:
But Kaufman, president of financial consulting firm Henry Kaufman & Co, quickly added: "I was a little bit dismayed when Senator McCain said flippantly that he does not know too much about economics but carries Alan Greenspan's book under his arm. That does not encourage me."
Yes, but Obama knows even less about economics and carries a copy of Paul Krugman's latest NYT editorial under his arm.
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