I read somewhere that 70% of financial advisors were backing Romney this fall. That makes sense given his stance on investment taxes and high income earners’ tax rates.
But he lost and now The Street has to deal with that. Or do they?
I have a few quotes in this story for CBS News…
Indeed Wall Street may not be interested in reconciliation.
“I don’t think it changes very much because the ground game for Wall Street has been and will continue to be dismantling Dodd-Frank piece by piece through the judicial process,” says Josh Brown, an advisor at Fusion Analytics and author of the book “Backstage Wall Street.” “Used to be you pass a regulation and that’s the rule. Now it’s you pass the regulation and it’s the beginning of a court battle/negotiation process. So they’re going to continue to try to gut various parts of the reform piece by piece.”
Head over for more, including what the win for Elizabeth Warren may mean.