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Wall Street reaction to key events during the Bush term

Posted By Barry Ritholtz On July 26, 2004 @ 6:37 am In Finance,Politics | Comments Disabled

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CBS MarketWatch [1] has a terrific round up [2] of all the political activity at the Democratic Convention in Boston this week, specifically focusing opn the impact on the financial markets.

Here’s how the markets have reacted to seminal events during the Bush Presidency. Somehow overlooked is the invasion of Afghanistan (?) and the recent Abu Ghraib prison scandal.


MarketWatch [3] notes that Wall Street is “the biggest single source of campaign cash” for the President (although challenger John Kerry also receives some of the Street’s largesse.) All this money buys something, and Wall Street leaders have a long wish list for Washington: The top of the list: lower taxes and lower deficits [4].

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As the chart above shows, Wall Street’s Financial services firms show 5-to-1 bias [5] for Bush in their campaign contributions.

CBS’s graphic department does a nice job on making complex subjects readily decipherable.

You should absolutely go check out the entire section of coverage [2] . . .


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2004/07/wall-street-reaction-to-key-events-during-the-bush-term/

URLs in this post:

[1] CBS MarketWatch: http://cbs.marketwatch.com/

[2] round up: http://cbs.marketwatch.com/news/features/2004_election.asp?siteid=mktw

[3] MarketWatch: http://cbs.marketwatch.com/news/story.asp?guid=%7B82BEE321-CC3D-4C61-B0C9-3EDFCC02AA54%7D&siteid=mktw

[4] lower taxes and lower deficits: http://cbs.marketwatch.com/news/story.asp?guid=%7B5D8DA396-CCAD-45CC-9E4F 389C012E6204%7D&siteid=mktw

[5] 5-to-1 bias: http://cbs.marketwatch.com/news/story.asp?guid=%7BF03EC192-FA26-48AE-A0BB 0B4A637080CE%7D&siteid=mktw

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