Consultant Pippa Malmgren believes political concerns will have a greater impact on markets with credit crunch biting
Politics is usually a distraction or an amusement for traders. Not any more. Now politics is the single most important force at work on your portfolio. It is not just the US Presidential race that matters, although Obama and McCain have opposing views about how to contain Wall Street and support Main Street. Obama likes higher taxes and wants companies to bear the burden of the new universal healthcare system he proposes. McCain prefers to restrict incentives that cause Wall Street to run amok from time to time, like excessive CEO pay. Either way, the politics of the financial crisis ...
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