Monday, October 13, 2008

Did Obama Cause the Stock Market Crash?

I have a theory that Barack Obama may have caused the Stock Market crash when investors withdrew trillions of dollar from their portfolios to donate to his campaign.

1 comment:

Anonymous said...

I would not go as far as saying that. Barack Obama's campaign only raised around $500 Million. The Trillions lost in the fall of the market were non existant, and is only an estimate based on perceived value of companies.

Where Obama may have contributed to the steady decline in the markets since he won the election is that investors are trying to take their money out of the US market for fear of raises in capital gain tax. My bet is that if President Elect Obama made a statement (whether he intended to homor it or not) to the extent that he will not raise capital gains in his first term, that you would see a drastic improvement on Wall Street.