[HCCN] NYT- How Obama Saved Capitalism and Lost the Midterms-
drbellows at myfairpoint.net
Wed Nov 3 22:50:34 EDT 2010
""If I were one of the big corporate donors who bankrolled the
Republican tide that carried into office more than 50 new Republicans
in the House, I would be wary of what you just bought.
For no matter your view of President Obama, he effectively saved
capitalism. And for that, he paid a terrible political price.
Suppose you had $100,000 to invest on the day Barack Obama was
inaugurated. Why bet on a liberal Democrat? Here’s why: the presidency
of George W. Bush produced the worst stock market decline of any
president in history. The net worth of American households collapsed
as Bush slipped away. And if you needed a loan to buy a house or stay
in business, private sector borrowing was dead when he handed over
As of election day, Nov. 2, 2010, your $100,000 was worth about
$177,000 if invested strictly in the NASDAQ average for the entirety
of the Obama administration, and $148,000 if bet on the Standard &
Poors 500 major companies. This works out to returns of 77 percent and
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