Monday, August 18, 2008

McCain, Obama and the Wall Street Primary

Why You Care guesses you were away at the beach this weekend and likely were not pouring over the Sunday business pages. That's okay, we were. What you missed was a terrific look at how both Senators Barack Obama and John McCain are vying for both economic bonafides in the eyes of voters and Wall Street dollars.

Here's why you care: Nelson Schwartz and Steve Lohr's piece rightly points out that Wall Street Democrats and Republicans largely lined up behind then presidential candidates Hillary Clinton and Mitt Romney respectively. Senators Obama and McCain are now making up that ground for very different reasons. That will impact how they play to Wall Street and to the voter. If you think the offshore oil drilling debate was interesting, try fiscal policy that will make the difference as to when you are able to retire, buy a house, or put a child through college.

Reading this piece will give you a sense of what's going on leading up to the party conventions in the next few weeks.