Business Concerned about an Obama Presidency.

[mickey2000]

It's no coincidence that the decline in the markets has accompanied Obama's rise in the polls.

 

[ntsammy5]

It is interesting that the market continues to drop even though by most accounts he is ahead in the polls.

Cause and affect - the sun came up every morning too. The sunrise must have caused it.

 

[DawnCt1]

Are these the same CEOs that are making 7 figure salaries? It's time for a change. Period. Corporate greed has to stop.

So what if they are making 7 figure salaries? If the company is earning money, if the share holders are happy with the job the CEO is doing, that's all that matters. As long as they aren't taking taxpayer money, ie bailouts, they can earn what the market is willing to pay them. This is still a free country.

 

[DawnCt1]

Right, they have been doing such a great job with all of this?

Some certainly are. Everyone I know is currently employed, getting paid, getting benefits, health insurance. If you are looking to place blame, lets start with Congress. Lets start with Chris Dodd, Obama, Barney Frank; who have their fingerprints all over this mess.

 

[Yen Sid]

The republicans helped cause this mess with deregulation, now McCain wants all taxpayers to help homeowners who can't afford their mortgages pay their bills, I don't see anyone talking about that, everyone wants to talk about Obama when the republicans did this to us and McCain is only going to make it worse.

 

[DawnCt1]

The republicans helped cause this mess with deregulation, now McCain wants all taxpayers to help homeowners who can't afford their mortgages pay their bills, I don't see anyone talking about that, everyone wants to talk about Obama when the republicans did this to us and McCain is only going to make it worse.

Actually, it would take very little effort for you to drill down to the root of the problem; Fannie Mae and Freddie Mac with the democrats blocking every attempt at regulation proposed by the president 17 times, and other republicans. It was blocked coming out of committee. Chris Dodd and Obama received the most funds from Fannie and Freddie. Barnie Frank swore it was solvent.

 

[Yen Sid]

I have to agree and disagree with you there, according to CNN Obama did recieve the second highest amount of money from those organizations but it was from the employees while the money McCain got was from the CEO's and big wigs of the company which amounted to 10 times as much as they gave Obama. The reason CEO's love the republicans so much is because they always look out for big business no matter what.

 

[DancingBear]

Actually, it would take very little effort for you to drill down to the root of the problem; Fannie Mae and Freddie Mac with the democrats blocking every attempt at regulation proposed by the president 17 times, and other republicans. It was blocked coming out of committee. Chris Dodd and Obama received the most funds from Fannie and Freddie. Barnie Frank swore it was solvent.

Fannie may have been a bit of an organizational mess, but Fannie and Freddie weren't the root cause of the problems here. They really didn't get into trouble until the problem had already started to snowball and they were given authority to buy additional mortgage-backed securities to try to prop up the liquidity of the markets. I suppose you don't think Phil Gramm's legislation to block regulation of CDOs had anything to do with it.

 

[DancingBear]

Here we go again. More class warfare. Many small business owners are going to be affected by the $250K tax hike. Everyone making over $102K are going to be hit by the SS tax increase.

Again, only we small business owners who are generating $250,000 of net income will pay additional taxes. And you're wrong about the SS tax; Obama proposes a donut hole between the $102,000 and $250,000 incomes.

 

[DancingBear]

Actually, it wasnt a talking point. They were speaking to people who pulled their money out of the market. They preferred to pay today's rate of capital gains tax and not risk it later when Obama raises it. They are waiting to see who wins to decide what to do with the money they pulled out.

In a falling market it's normal for folks to cash out. Chances are they have capital losses to offset all or part of their capital gains. And yes Obama has proposed raising the capital gains tax back to 20%, still historically pretty low.

 

[bsnyder]

Fannie may have been a bit of an organizational mess, but Fannie and Freddie weren't the root cause of the problems here. They really didn't get into trouble until the problem had already started to snowball and they were given authority to buy additional mortgage-backed securities to try to prop up the liquidity of the markets. I suppose you don't think Phil Gramm's legislation to block regulation of CDOs had anything to do with it.

The two of them are responsible for over a trillion dollars in subprime and Alt-A from 2005 to 2007 alone. That could have been stopped in 2005/2006 if the Democrats hadn't blocked reform.

So why haven't we had the same mess in the commercial real estate market? Those lenders and developers and Wall Street mortgage securitizers are just a lot less greedy?

I don't think so. The difference is they didn't have an inexhaustible secondary market that came with an implicit government backed guarantee. They had to rely on old-fashioned common sense lending standards and market based risk-rewards signals.

 

[DancingBear]

Do you people that are voting for Obama really think the only people going to see increased taxes are those making over $250K? Heck, even the other night in the debate, he changed it to those making over $200K...

No he didn't.

If you make less than a quarter of a million dollars a year, you will not see a single dime of your taxes go up. If you make $200,000 a year or less, your taxes will go down.

http://www.cnn.com/2008/POLITICS/10/07/presidential.debate.transcript/

 

[DancingBear]

Of course, we all know how the next four years will go: Anything good that happens in America (give credit to Obama). Anything bad that happens (blame the previous administration of GWB). If Obama is elected, I can’t wait for the 2012 campaign when he'll still be blaming Bush for his inability to implement and follow through on all of his election promises!

You mean sorta how the Republicans still blame Clinton for everything?

 

[TLSnell1981]

Again, only we small business owners who are generating $250,000 of net income will pay additional taxes. And you're wrong about the SS tax; Obama proposes a donut hole between the $102,000 and $250,000 incomes.

Not all small business owners are incorporated. The $250K does affect them. So, now he's decided not to lift the SS cap?

 

[JARNJ3]

Jim Cramer, that nutty guy on CNBC claims Wall Street would rather have Obama be the next president.

http://nymag.com/news/businessfinance/bottomline/51007/

Its an interesting read. Here's a snippet:

What will New York look like a year from now? The answer: bad and probably worse, and perhaps downright catastrophic. Three degrees of awful. The first step was passing the bank-bailout legislation. Now that it’s done—and if it didn’t get done we would have been looking at a guaranteed economic collapse—the critical issue will be presidential leadership. And while any president will be an improvement over the current one, there is a growing belief on Wall Street that Barack Obama has the capacity to lead us out of this wilderness while John McCain does not. I’ll go a step further: Obama is a recession. McCain is a depression.

Wall Street usually favors Republicans when it comes to managing the economy, but this time around the financial community is skeptical. John McCain has done everything he can to avoid talking about the economy, lest he be tarred with the brush of George Bush’s ineptitude. And when McCain has attempted to step into the fray, he’s been far from reassuring. First, he insisted that the fundamentals of the economy were sound; then he turned around and told us it was the end of the economic world as we know it, and suspended his campaign to scramble back to Washington and save the day on the bailout bill—only to have little visible effect. For all his talk of being a maverick, McCain looks an awful lot like President Bush on the credit crisis: He doesn’t seem to understand Wall Street or Main Street, he is dogmatically anti-regulation, and his economic team is a joke. Carly Fiorina almost destroyed the onetime best technology company in America, Hewlett-Packard, and Meg Whitman took eBay, the best dot-com player, and turned it into a mediocre franchise that has no growth. Both are perceived by Wall Street to be also-rans who are on the team because they have nothing else to do.

Obama is no messiah, of course, but there’s a reason the Street sees him as a more capable manager of the credit crisis. He seems to understand the complexity of the problem, and while he’s nobody’s populist, he’s at least perceived as less tone-deaf to everyday Americans’ problems than his opponent. Obama also has a better team, in the likes of Larry Summers, the renowned economist and former Harvard president who probably knows more about this crisis than anyone, and Warren Buffett, the smartest man in business, period. And Obama is a globalist, in an age where the world’s economies are increasingly interdependent.

 

[AlexTina]

If you make less than a quarter of a million dollars a year, you will not see a single dime of your taxes go up. If you make $200,000 a year or less, your taxes will go down.

Your are right. They'll go down, after they go up that is. Obama is going to let the Bush tax cuts expire, so your taxes are going to go up. Once the Bush tax cuts have expired he will then give you a measly tax cut. If Obama wins you will be paying higher taxes than you are now. You can claim it ain't so all you want, if he wins you'll see it in your paycheck, guaranteed.

Tina

 

[TLSnell1981]

Your are right. They'll go down, after they go up that is. Obama is going to let the Bush tax cuts expire, so your taxes are going to go up. Once the Bush tax cuts have expired he will then give you a measly tax cut. If Obama wins you will be paying higher taxes than you are now. You can claim it ain't so all you want, if he wins you'll see it in your paycheck, guaranteed.

Tina

The OS are so giddy....they don't care if they have to hand over their first born. Pay higher taxes...they don't mind....it's patriotic. They think it only affects business owners that make over $250K....if you make that... you need to stop. There's no incentive to do any better. Obama gets it for his special interests. I bet ACORN is at the top of the list.

 

[Tigger Woods]

The republicans helped cause this mess with deregulation, now McCain wants all taxpayers to help homeowners who can't afford their mortgages pay their bills, I don't see anyone talking about that, everyone wants to talk about Obama when the republicans did this to us and McCain is only going to make it worse.

Obama sued CitiBank under CRA to force it to make bad loans to unqualified home buyers. Why no outrage at Obama?

 

[bsnyder]

Jim Cramer, that nutty guy on CNBC claims Wall Street would rather have Obama be the next president.

http://nymag.com/news/businessfinance/bottomline/51007/

Its an interesting read. Here's a snippet:

Yes, he's nutty, and this isn't a surprise. I think he's always been a big Dem supporter.

 

[JARNJ3]

Yes, he's nutty, and this isn't a surprise. I think he's always been a big Dem supporter.

I agree. Just pointed it out to show another perspective......