Wall Street investors, the Masters of the Universe, are among the big losers of last night's election. Elizabeth Warren, their enemy number one, was elected, and Romney, their dream president, was not. Now Obama basically owes them nothing. Paul Krugman:
Investment bankers — who normally lean Democratic — went overwhelmingly to the other side, pouring cash into Mitt Romney’s coffers in the no doubt correct expectation that a Romney administration would dismantle financial reform and treat their wealth with the adulation they believe to be their birthright.
But Romney lost and Obama won. The limits of their power have been cruelly exposed, and the reelected president now owes them nothing. Did I mention that Elizabeth Warren is going to the Senate — a Senate that will be substantially more progressive and less Wall Street friendly than before?
Bad move, guys.
The bad move has evidently hit the market hard (it's down nearly 300 points at this moment).
So, along with the Tea Party and Netanyahu...
Israeli Prime Minister Benjamin Netanyahu faces an even more awkward time with Washington and re-energized critics at home who accused him on Wednesday of backing the loser in the U.S. presidential election....the Masters of the Universe lost bigtime.