Economy

Despite Huge Market Gains, 70 Percent Of Wall Streeters Want A Republican President

CREDIT:

The stock market may have risen dramatically under President Obama, but 70 percent of Wall Street investment analysts and money managers still want a Republican president to win the 2012 election, according to a CNN Money survey released Wednesday. Wall Street prefers the loose regulatory policies and lower tax rates — particularly on investments and capital gains — favored by the Republican candidates, the survey found. Some strategists are hoping Obama wins, though. “All Republicans want to do is cut government spending, but you can’t stimulate the economy without it,” Donal Selkin, chief market strategist at National Securities, told CNN. “Wall Street is just interested in its own pocketbook.”